Lexicon Pharmaceuticals (NASDAQ:LXRX) Cut to "Hold" at Leerink Partnrs

Leerink Partnrs downgraded shares of Lexicon Pharmaceuticals (NASDAQ:LXRX - Free Report) from a strong-buy rating to a hold rating in a research report report published on Wednesday,Zacks.com reports.

Several other equities research analysts have also commented on the stock. Leerink Partners restated a "market perform" rating and issued a $1.00 price target (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a research note on Tuesday, March 4th. HC Wainwright reissued a "buy" rating and issued a $4.00 price objective on shares of Lexicon Pharmaceuticals in a report on Monday, March 3rd. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $3.67.

Lexicon Pharmaceuticals Stock Performance

Shares of Lexicon Pharmaceuticals stock traded down $0.04 on Wednesday, reaching $0.35. 9,597,892 shares of the company were exchanged, compared to its average volume of 4,071,355. The firm has a market cap of $87.34 million, a price-to-earnings ratio of -0.47 and a beta of 1.04. Lexicon Pharmaceuticals has a 1-year low of $0.28 and a 1-year high of $2.83. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.43 and a current ratio of 7.45. The company's 50-day moving average is $0.73 and its two-hundred day moving average is $1.13.

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Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last posted its earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $6.48 million. As a group, research analysts expect 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 made changes to their positions in the stock. FMR LLC increased its stake in shares of Lexicon Pharmaceuticals by 28.9% during the third 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. increased 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 purchasing an additional 7,758,371 shares during the period. Schonfeld Strategic Advisors LLC raised its stake in shares of Lexicon Pharmaceuticals by 301.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 7,558,621 shares of the biopharmaceutical company's stock worth $5,582,000 after buying an additional 5,676,021 shares in the last quarter. Nantahala Capital Management LLC lifted its holdings in shares of Lexicon Pharmaceuticals by 186.6% in the fourth quarter. Nantahala Capital Management LLC now owns 6,604,150 shares of the biopharmaceutical company's stock valued at $4,877,000 after buying an additional 4,300,000 shares during the period. Finally, Tang Capital Management LLC boosted its stake in Lexicon Pharmaceuticals by 750.3% during the fourth quarter. Tang Capital Management LLC now owns 850,268 shares of the biopharmaceutical company's stock valued at $628,000 after buying an additional 750,268 shares in the last quarter. 74.70% of the stock is owned by institutional investors and hedge funds.

Lexicon Pharmaceuticals Company Profile

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.