Needham & Company LLC Reiterates Hold Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

Needham & Company LLC restated their hold rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX - Free Report) in a research report released on Wednesday,Benzinga reports.

Several other research firms have also recently issued reports on LXRX. HC Wainwright reiterated a "buy" rating and issued a $6.00 target price on shares of Lexicon Pharmaceuticals in a research note on Wednesday. Leerink Partners set a $6.00 price objective on Lexicon Pharmaceuticals and gave the stock an "outperform" rating in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $6.00.

Lexicon Pharmaceuticals Trading Down 8.4 %

Shares of LXRX traded down $0.10 during midday trading on Wednesday, hitting $1.09. 3,165,720 shares of the company traded hands, compared to its average volume of 3,477,871. The stock has a 50-day moving average of $1.65 and a 200-day moving average of $1.75. The company has a current ratio of 11.51, a quick ratio of 11.49 and a debt-to-equity ratio of 0.41. Lexicon Pharmaceuticals has a one year low of $1.01 and a one year high of $3.73.

Institutional Trading of Lexicon Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. CVI Holdings LLC bought a new stake in Lexicon Pharmaceuticals in the 2nd quarter worth approximately $34,000. Principal Financial Group Inc. lifted its holdings in shares of Lexicon Pharmaceuticals by 116.1% in the 2nd quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company's stock worth $38,000 after acquiring an additional 12,225 shares during the last quarter. Great Point Partners LLC bought a new stake in shares of Lexicon Pharmaceuticals in the 2nd quarter worth approximately $50,000. SG Americas Securities LLC boosted its stake in shares of Lexicon Pharmaceuticals by 107.6% in the 3rd quarter. SG Americas Securities LLC now owns 46,090 shares of the biopharmaceutical company's stock valued at $72,000 after purchasing an additional 23,893 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Lexicon Pharmaceuticals by 44.5% during the 2nd quarter. Victory Capital Management Inc. now owns 45,341 shares of the biopharmaceutical company's stock valued at $76,000 after purchasing an additional 13,972 shares during the last quarter. 74.70% of the stock is owned by institutional investors.

About Lexicon Pharmaceuticals

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of pharmaceutical products. Its orally-delivered small molecule drug candidates under development comprise Sotagliflozin that completed Phase III clinical trials for the for the treatment of heart failure and type 1 diabetes; and LX9211, which is in Phase II clinical development for the treatment of neuropathic pain and LX2761, which is in Phase I clinical development for gastrointestinal tract.