Lexicon Pharmaceuticals (NASDAQ:LXRX) Price Target Cut to $6.00 by Analysts at Piper Sandler

Lexicon Pharmaceuticals (NASDAQ:LXRX - Free Report) had its price target reduced by Piper Sandler from $10.00 to $6.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the biopharmaceutical company's stock.

Several other analysts also recently issued reports on LXRX. Leerink Partners restated a "market perform" rating and issued a $1.00 price target (down from $2.00) on shares of Lexicon Pharmaceuticals in a research note on Tuesday. Needham & Company LLC restated a "hold" rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. HC Wainwright restated a "buy" rating and issued a $4.00 price target on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. Finally, Leerink Partnrs downgraded Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $3.67.

Lexicon Pharmaceuticals Stock Performance

Shares of NASDAQ LXRX traded up $0.02 during midday trading on Friday, hitting $0.39. 13,534,445 shares of the company's stock were exchanged, compared to its average volume of 4,048,527. 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 $0.28 and a 12 month high of $2.83. The company's 50 day moving average price is $0.73 and its 200 day moving average price is $1.14. The firm has a market capitalization of $96.48 million, a PE ratio of -0.52 and a beta of 1.04.

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Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last issued its earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. Lexicon Pharmaceuticals had a negative return on equity of 107.38% and a negative net margin of 4,109.41%. The company had revenue of $26.55 million during the quarter, compared to the consensus estimate of $6.48 million. As a group, analysts predict that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Institutional Trading of Lexicon Pharmaceuticals

A number of institutional investors have recently modified their holdings of LXRX. FMR LLC lifted its position in shares of Lexicon Pharmaceuticals by 28.9% during the 3rd quarter. FMR LLC now owns 49,867,042 shares of the biopharmaceutical company's stock valued at $78,291,000 after acquiring an additional 11,179,919 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Lexicon Pharmaceuticals by 630.7% during the 4th quarter. Point72 Asset Management L.P. now owns 8,988,421 shares of the biopharmaceutical company's stock valued at $6,638,000 after acquiring an additional 7,758,371 shares during the period. Schonfeld Strategic Advisors LLC lifted its position in shares of Lexicon Pharmaceuticals by 301.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 7,558,621 shares of the biopharmaceutical company's stock valued at $5,582,000 after acquiring an additional 5,676,021 shares during the period. Nantahala Capital Management LLC lifted its position in shares of Lexicon Pharmaceuticals by 186.6% during the 4th quarter. Nantahala Capital Management LLC now owns 6,604,150 shares of the biopharmaceutical company's stock valued at $4,877,000 after acquiring an additional 4,300,000 shares during the period. Finally, Tang Capital Management LLC lifted its position in shares of Lexicon Pharmaceuticals by 750.3% during the 4th quarter. Tang Capital Management LLC now owns 850,268 shares of the biopharmaceutical company's stock valued at $628,000 after acquiring an additional 750,268 shares during the period. 74.70% of the stock is currently 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.