Lexicon Pharmaceuticals (NASDAQ:LXRX) Rating Increased to Buy at Wall Street Zen

Lexicon Pharmaceuticals (NASDAQ:LXRX) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Other analysts also recently issued reports about the company. HC Wainwright restated a “buy” rating and issued a $4.00 price target on shares of Lexicon Pharmaceuticals in a research note on Tuesday, September 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research note on Saturday, September 27th. Finally, Citigroup boosted their target price on Lexicon Pharmaceuticals from $1.20 to $1.90 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Lexicon Pharmaceuticals currently has an average rating of “Hold” and an average price target of $3.23.

Lexicon Pharmaceuticals Stock Up 2.2%

Lexicon Pharmaceuticals stock opened at $1.41 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.16 and a quick ratio of 4.16. Lexicon Pharmaceuticals has a 1-year low of $0.28 and a 1-year high of $2.18. The company has a market cap of $512.39 million, a PE ratio of -4.27 and a beta of 1.23. The stock’s 50 day moving average price is $1.16 and its 200 day moving average price is $0.87.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.09. Lexicon Pharmaceuticals had a negative return on equity of 83.63% and a negative net margin of 206.43%.The firm had revenue of $28.87 million for the quarter, compared to the consensus estimate of $4.87 million. On average, sell-side analysts predict that Lexicon Pharmaceuticals will post -0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in LXRX. Hudson Bay Capital Management LP acquired a new position in Lexicon Pharmaceuticals in the second quarter valued at $26,000. R Squared Ltd acquired a new position in Lexicon Pharmaceuticals in the second quarter valued at $28,000. Straight Path Wealth Management acquired a new position in Lexicon Pharmaceuticals in the first quarter valued at $29,000. Wealth Enhancement Advisory Services LLC acquired a new position in Lexicon Pharmaceuticals in the first quarter valued at $32,000. Finally, CWM LLC increased its stake in Lexicon Pharmaceuticals by 9,228.4% in the first quarter. CWM LLC now owns 105,504 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 104,373 shares during the last quarter. 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.