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

HC Wainwright restated their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX - Free Report) in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has a $6.00 target price on the biopharmaceutical company's stock.

Several other equities research analysts have also recently commented on LXRX. StockNews.com raised Lexicon Pharmaceuticals to a "sell" rating in a research note on Tuesday, July 9th. Leerink Partners set a $6.00 price target on shares of Lexicon Pharmaceuticals and gave the stock an "outperform" rating in a research note on Friday, October 18th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Lexicon Pharmaceuticals in a research note on Wednesday, October 30th. 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 company's stock. Based on data from MarketBeat, Lexicon Pharmaceuticals currently has an average rating of "Hold" and an average target price of $6.00.

Lexicon Pharmaceuticals Stock Down 1.2 %

Shares of LXRX stock traded down $0.02 during trading on Tuesday, hitting $1.19. 6,659,487 shares of the company were exchanged, compared to its average volume of 3,486,372. The business's 50-day simple moving average is $1.69 and its 200 day simple moving average is $1.76. Lexicon Pharmaceuticals has a twelve month low of $0.92 and a twelve month high of $3.73. The firm has a market capitalization of $293.03 million, a price-to-earnings ratio of -1.53 and a beta of 1.24. The company has a debt-to-equity ratio of 0.41, a quick ratio of 11.49 and a current ratio of 11.51.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of LXRX. Pinnacle Associates Ltd. raised its stake in shares of Lexicon Pharmaceuticals by 0.9% during the third quarter. Pinnacle Associates Ltd. now owns 1,730,821 shares of the biopharmaceutical company's stock worth $2,648,000 after buying an additional 14,990 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Lexicon Pharmaceuticals by 63.7% during the third quarter. China Universal Asset Management Co. Ltd. now owns 69,527 shares of the biopharmaceutical company's stock worth $109,000 after acquiring an additional 27,058 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Lexicon Pharmaceuticals by 34.7% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 731,138 shares of the biopharmaceutical company's stock valued at $1,148,000 after buying an additional 188,239 shares during the last quarter. Compagnie Lombard Odier SCmA boosted its holdings in Lexicon Pharmaceuticals by 6.4% during the third 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. Finally, SG Americas Securities LLC increased its position in shares of Lexicon Pharmaceuticals by 107.6% in the third quarter. SG Americas Securities LLC now owns 46,090 shares of the biopharmaceutical company's stock valued at $72,000 after acquiring an additional 23,893 shares during 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.