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 equities researchers at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They presently have a $10.00 target price on the biopharmaceutical company's stock. HC Wainwright's price target would suggest a potential upside of 412.82% from the company's current price.

Several other equities analysts have also weighed in on LXRX. Needham & Company LLC restated a "hold" rating on shares of Lexicon Pharmaceuticals in a report on Wednesday. StockNews.com upgraded shares of Lexicon Pharmaceuticals to a "sell" rating in a report on Tuesday, July 9th. Finally, Leerink Partners set a $6.00 target price on shares of Lexicon Pharmaceuticals and gave the stock an "outperform" rating in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $8.00.

Lexicon Pharmaceuticals Price Performance

Shares of LXRX stock traded down $0.08 during trading hours on Wednesday, reaching $1.95. 6,438,563 shares of the company were exchanged, compared to its average volume of 3,388,536. Lexicon Pharmaceuticals has a fifty-two week low of $0.92 and a fifty-two week high of $3.73. The stock's fifty day moving average is $1.73 and its two-hundred day moving average is $1.77. The company has a market cap of $480.16 million, a price-to-earnings ratio of -2.35 and a beta of 1.28. The company has a debt-to-equity ratio of 0.41, a current ratio of 11.51 and a quick ratio of 11.49.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.01. Lexicon Pharmaceuticals had a negative net margin of 5,509.34% and a negative return on equity of 105.38%. The company had revenue of $1.65 million for the quarter, compared to analyst estimates of $2.74 million. During the same period in the prior year, the business earned ($0.22) earnings per share. Sell-side analysts forecast that Lexicon Pharmaceuticals will post -0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Large investors have recently made changes to their positions in the stock. CVI Holdings LLC bought a new stake in shares of Lexicon Pharmaceuticals during the second quarter worth $34,000. Principal Financial Group Inc. grew 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 valued at $38,000 after purchasing an additional 12,225 shares in the last quarter. Great Point Partners LLC bought a new position in Lexicon Pharmaceuticals in the second quarter valued at $50,000. Virtu Financial LLC bought a new position in Lexicon Pharmaceuticals in the first quarter valued at $105,000. Finally, Victory Capital Management Inc. grew its position in 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 purchasing an additional 13,972 shares in the last quarter. 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.