Needham & Company LLC Reaffirms “Hold” Rating for Lexicon Pharmaceuticals (NASDAQ:LXRX)

Lexicon Pharmaceuticals (NASDAQ:LXRX)‘s stock had its “hold” rating reissued by Needham & Company LLC in a research note issued to investors on Friday,Benzinga reports.

A number of other analysts have also commented on the company. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Lexicon Pharmaceuticals in a report on Wednesday, November 13th. Leerink Partners set a $6.00 price objective on Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $6.00.

Lexicon Pharmaceuticals Trading Up 12.8 %

NASDAQ LXRX traded up $0.10 during trading hours on Friday, reaching $0.87. The company’s stock had a trading volume of 6,844,754 shares, compared to its average volume of 3,491,705. The stock has a market cap of $214.28 million, a P/E ratio of -1.18 and a beta of 1.24. Lexicon Pharmaceuticals has a 52 week low of $0.73 and a 52 week high of $3.73. The firm has a fifty day simple moving average of $1.55 and a 200-day simple moving average of $1.71. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.45 and a quick ratio of 7.43.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The firm had revenue of $1.75 million during the quarter, compared to analyst estimates of $3.14 million. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. During the same quarter in the previous year, the firm earned ($0.21) EPS. Equities analysts forecast that Lexicon Pharmaceuticals will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of Lexicon Pharmaceuticals

A number of institutional investors have recently bought and sold shares of LXRX. FMR LLC lifted its stake in shares of Lexicon Pharmaceuticals by 28.9% in the third quarter. FMR LLC now owns 49,867,042 shares of the biopharmaceutical company’s stock worth $78,291,000 after buying an additional 11,179,919 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in Lexicon Pharmaceuticals by 605.2% in the second quarter. Point72 Asset Management L.P. now owns 4,121,191 shares of the biopharmaceutical company’s stock valued at $6,924,000 after purchasing an additional 3,536,805 shares during the period. Nantahala Capital Management LLC acquired a new position in Lexicon Pharmaceuticals during the 2nd quarter worth approximately $3,871,000. Marshall Wace LLP boosted its holdings in Lexicon Pharmaceuticals by 138.5% in the second quarter. Marshall Wace LLP now owns 1,190,448 shares of the biopharmaceutical company’s stock valued at $2,000,000 after purchasing an additional 691,276 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in Lexicon Pharmaceuticals during the second quarter worth approximately $912,000. 74.70% of the stock is currently owned by institutional investors and hedge funds.

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.