Lexicon Pharmaceuticals’ (LXRX) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright restated their buy rating on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a report published on Wednesday morning,Benzinga reports. HC Wainwright currently has a $6.00 price target on the biopharmaceutical company’s stock.

LXRX has been the subject of a number of other reports. Leerink Partners set a $6.00 price objective on shares of Lexicon Pharmaceuticals and gave the stock an “outperform” rating in a research note on Friday, October 18th. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Wednesday, October 30th. 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. According to data from MarketBeat.com, Lexicon Pharmaceuticals currently has an average rating of “Hold” and an average price target of $6.00.

Lexicon Pharmaceuticals Stock Performance

Shares of LXRX stock opened at $1.08 on Wednesday. The firm has a market cap of $265.94 million, a PE ratio of -1.45 and a beta of 1.24. Lexicon Pharmaceuticals has a 12 month low of $1.01 and a 12 month high of $3.73. The company’s fifty day simple moving average is $1.64 and its 200-day simple moving average is $1.74. The company has a quick ratio of 11.49, a current ratio of 11.51 and a debt-to-equity ratio of 0.41.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of LXRX. CVI Holdings LLC bought a new position in shares of Lexicon Pharmaceuticals during the 2nd quarter worth approximately $34,000. Principal Financial Group Inc. raised its position in shares of Lexicon Pharmaceuticals by 116.1% in the 2nd quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company’s stock valued at $38,000 after buying an additional 12,225 shares in the last quarter. Great Point Partners LLC bought a new stake in shares of Lexicon Pharmaceuticals during the 2nd quarter worth approximately $50,000. BNP Paribas Financial Markets boosted its position in shares of Lexicon Pharmaceuticals by 71.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock worth $50,000 after acquiring an additional 13,246 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Lexicon Pharmaceuticals in the first quarter valued at approximately $105,000. 74.70% of the stock is owned by institutional investors.

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.