HC Wainwright Reaffirms Buy Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They presently have a $6.00 target price on the biopharmaceutical company's stock. HC Wainwright's price target suggests a potential upside of 450.46% from the company's current price.

Several other brokerages have also recently weighed in on LXRX. Needham & Company LLC restated a "hold" rating on shares of Lexicon Pharmaceuticals in a research note on Wednesday, October 30th. Leerink Partners set a $6.00 target price on shares of Lexicon Pharmaceuticals and gave the company an "outperform" rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Lexicon Pharmaceuticals currently has an average rating of "Hold" and a consensus price target of $6.00.

Lexicon Pharmaceuticals Trading Down 8.4 %

Shares of Lexicon Pharmaceuticals stock traded down $0.10 on Wednesday, hitting $1.09. The company had a trading volume of 3,165,720 shares, compared to its average volume of 3,477,871. The company has a debt-to-equity ratio of 0.41, a quick ratio of 11.49 and a current ratio of 11.51. Lexicon Pharmaceuticals has a 1 year low of $1.01 and a 1 year high of $3.73. The stock has a 50 day moving average of $1.65 and a 200-day moving average of $1.75.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Compagnie Lombard Odier SCmA increased its stake in shares of Lexicon Pharmaceuticals by 6.4% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 100,000 shares of the biopharmaceutical company's stock worth $157,000 after purchasing an additional 6,000 shares during the last quarter. Principal Financial Group Inc. increased its position in Lexicon Pharmaceuticals by 116.1% in the second quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company's stock worth $38,000 after buying an additional 12,225 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Lexicon Pharmaceuticals by 44.5% in the second 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 during the period. The Manufacturers Life Insurance Company lifted its position in shares of Lexicon Pharmaceuticals by 40.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 49,957 shares of the biopharmaceutical company's stock valued at $84,000 after buying an additional 14,411 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its stake in shares of Lexicon Pharmaceuticals by 0.9% during the 3rd quarter. Pinnacle Associates Ltd. now owns 1,730,821 shares of the biopharmaceutical company's stock worth $2,648,000 after acquiring an additional 14,990 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.