Leerink Partnrs Downgrades Lexicon Pharmaceuticals (NASDAQ:LXRX) to Hold

Leerink Partnrs downgraded shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) from a strong-buy rating to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts also recently issued reports on LXRX. Leerink Partners reiterated a “market perform” rating and issued a $1.00 price target (down from $2.00) on shares of Lexicon Pharmaceuticals in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Lexicon Pharmaceuticals in a research report on Monday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Lexicon Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $2.50.

Lexicon Pharmaceuticals Stock Performance

NASDAQ LXRX opened at $0.34 on Wednesday. The stock has a market capitalization of $82.74 million, a PE ratio of -0.45 and a beta of 1.04. Lexicon Pharmaceuticals has a 1-year low of $0.28 and a 1-year high of $2.83. The business has a 50 day simple moving average of $0.74 and a two-hundred day simple moving average of $1.16. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.45 and a quick ratio of 7.43.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Large investors have recently bought and sold shares of the company. Bayesian Capital Management LP purchased a new stake in Lexicon Pharmaceuticals during the 4th quarter worth approximately $31,000. RPO LLC purchased a new stake in shares of Lexicon Pharmaceuticals in the fourth quarter valued at approximately $33,000. Renaissance Technologies LLC purchased a new stake in shares of Lexicon Pharmaceuticals in the fourth quarter valued at approximately $38,000. Arizona State Retirement System grew its position in shares of Lexicon Pharmaceuticals by 34.4% in the fourth quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company’s stock valued at $47,000 after purchasing an additional 16,136 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its position in shares of Lexicon Pharmaceuticals by 60.3% in the fourth quarter. Teacher Retirement System of Texas now owns 65,415 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 24,615 shares in the last quarter. 74.70% of the stock is currently owned by hedge funds and other 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.