HC Wainwright Begins Coverage on Lexicon Pharmaceuticals (NASDAQ:LXRX)

HC Wainwright started coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRXFree Report) in a report published on Monday morning, Marketbeat reports. The brokerage issued a buy rating and a $10.00 price objective on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for Lexicon Pharmaceuticals’ Q2 2024 earnings at ($0.18) EPS, Q3 2024 earnings at ($0.15) EPS, Q4 2024 earnings at ($0.13) EPS, FY2024 earnings at ($0.65) EPS, FY2025 earnings at ($0.21) EPS and FY2026 earnings at $0.48 EPS.

Several other analysts have also recently weighed in on the stock. Leerink Partnrs reaffirmed an outperform rating on shares of Lexicon Pharmaceuticals in a report on Tuesday, April 30th. Needham & Company LLC reaffirmed a hold rating on shares of Lexicon Pharmaceuticals in a report on Friday, May 3rd. SVB Leerink started coverage on shares of Lexicon Pharmaceuticals in a report on Tuesday, April 30th. They issued an outperform rating and a $5.00 target price on the stock. Finally, StockNews.com upgraded shares of Lexicon Pharmaceuticals to a sell rating in a research note on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lexicon Pharmaceuticals has a consensus rating of Hold and a consensus price target of $6.67.

Check Out Our Latest Stock Analysis on Lexicon Pharmaceuticals

Lexicon Pharmaceuticals Stock Up 1.7 %

Shares of NASDAQ:LXRX opened at $1.75 on Monday. The firm’s 50 day moving average price is $1.75 and its 200 day moving average price is $1.89. The stock has a market cap of $430.92 million, a price-to-earnings ratio of -2.11 and a beta of 1.38. Lexicon Pharmaceuticals has a fifty-two week low of $0.92 and a fifty-two week high of $3.73. The company has a quick ratio of 15.56, a current ratio of 15.58 and a debt-to-equity ratio of 0.35.

Lexicon Pharmaceuticals (NASDAQ:LXRXGet Free Report) last issued its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.02). The firm had revenue of $1.13 million during the quarter, compared to analyst estimates of $1.17 million. Lexicon Pharmaceuticals had a negative net margin of 8,311.12% and a negative return on equity of 108.54%. As a group, equities research analysts predict that Lexicon Pharmaceuticals will post -0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in LXRX. BVF Inc. IL increased its stake in Lexicon Pharmaceuticals by 22.2% in the fourth quarter. BVF Inc. IL now owns 24,435,632 shares of the biopharmaceutical company’s stock valued at $37,387,000 after purchasing an additional 4,440,300 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Lexicon Pharmaceuticals by 7.0% during the first quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company’s stock worth $15,363,000 after acquiring an additional 420,854 shares during the last quarter. Boulder Hill Capital Management LP purchased a new position in shares of Lexicon Pharmaceuticals during the first quarter worth approximately $615,000. Virtu Financial LLC purchased a new position in shares of Lexicon Pharmaceuticals during the first quarter worth approximately $105,000. Finally, KWB Wealth purchased a new position in shares of Lexicon Pharmaceuticals during the fourth quarter worth approximately $62,000. 74.70% of the stock is currently owned by hedge funds and other institutional investors.

Lexicon Pharmaceuticals Company Profile

(Get Free Report)

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.

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