Lexicon Pharmaceuticals (NASDAQ:LXRX) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research note published on Monday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $8.00 price objective on the biopharmaceutical company’s stock.

Several other analysts have also recently commented on LXRX. Zacks Research cut Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Weiss Ratings raised shares of Lexicon Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 23rd. Finally, Wall Street Zen downgraded shares of Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.70.

Lexicon Pharmaceuticals Stock Down 0.3%

Shares of NASDAQ LXRX opened at $1.88 on Monday. The firm has a market cap of $834.30 million, a P/E ratio of -12.50 and a beta of 1.02. The company has a debt-to-equity ratio of 0.29, a quick ratio of 13.29 and a current ratio of 13.37. Lexicon Pharmaceuticals has a 1 year low of $1.10 and a 1 year high of $2.68. The firm’s 50 day moving average price is $2.22 and its 200 day moving average price is $2.05.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Lexicon Pharmaceuticals had a negative return on equity of 37.53% and a negative net margin of 147.38%.The business had revenue of $0.69 million for the quarter, compared to analysts’ expectations of $3.99 million. As a group, sell-side analysts anticipate that Lexicon Pharmaceuticals will post -0.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC acquired a new position in shares of Lexicon Pharmaceuticals during the second quarter worth $28,000. CTC Alternative Strategies Ltd. acquired a new stake in Lexicon Pharmaceuticals during the 1st quarter valued at $27,000. Bank of New York Mellon Corp increased its stake in Lexicon Pharmaceuticals by 43.6% during the 1st quarter. Bank of New York Mellon Corp now owns 27,459 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 8,335 shares during the period. WINTON GROUP Ltd increased its stake in Lexicon Pharmaceuticals by 69.4% during the 2nd quarter. WINTON GROUP Ltd now owns 43,200 shares of the biopharmaceutical company’s stock worth $104,000 after buying an additional 17,700 shares during the period. Finally, AXQ Capital LP lifted its holdings in Lexicon Pharmaceuticals by 126.9% in the 2nd quarter. AXQ Capital LP now owns 45,727 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 25,577 shares in the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.

About Lexicon Pharmaceuticals

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company that discovers and develops medicines for human disease. Founded in 1995 and headquartered in The Woodlands, Texas, the company uses its drug-discovery platform and expertise in biology to identify potential treatments for conditions with significant unmet medical needs.

Lexicon’s marketed products include XERMELO (telotristat ethyl), an oral medicine used to treat carcinoid syndrome diarrhea in adults whose symptoms are not adequately controlled by somatostatin analog therapy.