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

Needham & Company LLC reissued their hold rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX - Free Report) in a research note published on Monday morning,Benzinga reports.

A number of other research analysts also recently commented on the stock. Leerink Partners set a $6.00 price target on shares of Lexicon Pharmaceuticals and gave the company an "outperform" rating in a report on Friday, October 18th. HC Wainwright restated a "buy" rating and set a $6.00 price target on shares of Lexicon Pharmaceuticals in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $6.00.

Lexicon Pharmaceuticals Price Performance

Lexicon Pharmaceuticals stock traded up $0.12 during midday trading on Monday, reaching $0.83. 10,313,887 shares of the stock traded hands, compared to its average volume of 3,657,082. The company has a quick ratio of 7.43, a current ratio of 7.45 and a debt-to-equity ratio of 0.56. Lexicon Pharmaceuticals has a 12 month low of $0.62 and a 12 month high of $3.73. The stock's fifty day moving average is $1.18 and its 200-day moving average is $1.56. The stock has a market cap of $204.38 million, a P/E ratio of -1.11 and a beta of 1.07.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last posted its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.01). The business had revenue of $1.75 million during the quarter, compared to analysts' expectations of $3.14 million. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. During the same period last year, the business posted ($0.21) earnings per share. As a group, equities research analysts anticipate that Lexicon Pharmaceuticals will post -0.66 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LXRX. CVI Holdings LLC bought a new stake in shares of Lexicon Pharmaceuticals during the 2nd quarter worth approximately $34,000. Principal Financial Group Inc. boosted its stake in shares of Lexicon Pharmaceuticals by 116.1% during the second quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company's stock valued at $38,000 after purchasing an additional 12,225 shares during the period. Great Point Partners LLC bought a new position in shares of Lexicon Pharmaceuticals in the second quarter worth about $50,000. BNP Paribas Financial Markets lifted its holdings in Lexicon Pharmaceuticals by 71.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company's stock valued at $50,000 after buying an additional 13,246 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in 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 buying an additional 13,972 shares in the last quarter. Hedge funds and other institutional investors own 74.70% of the company's stock.

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.