Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Gets Downgrade from Wall Street Zen

Lexicon Pharmaceuticals (NASDAQ:LXRX) was downgraded by equities researchers at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts also recently issued reports on LXRX. Weiss Ratings reissued a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research note on Wednesday, October 21st. Zacks Research lowered Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Finally, Cantor Fitzgerald started coverage on Lexicon Pharmaceuticals in a report on Monday, September 28th. They set an “overweight” rating and a $8.00 price objective for the company. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Lexicon Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $5.70.

Lexicon Pharmaceuticals Price Performance

Shares of LXRX stock opened at $1.42 on Friday. The company has a 50 day simple moving average of $1.89 and a two-hundred day simple moving average of $1.88. Lexicon Pharmaceuticals has a 12 month low of $1.10 and a 12 month high of $2.68. The stock has a market cap of $631.84 million, a P/E ratio of -9.47 and a beta of 1.10. The company has a current ratio of 13.37, a quick ratio of 13.29 and a debt-to-equity ratio of 0.29.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Lexicon Pharmaceuticals had a negative net margin of 147.38% and a negative return on equity of 37.53%. The company had revenue of $0.69 million for the quarter, compared to the consensus estimate of $3.99 million. On average, research analysts expect that Lexicon Pharmaceuticals will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Siren L.L.C. raised its position in shares of Lexicon Pharmaceuticals by 13.8% in the 1st quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company’s stock valued at $69,113,000 after buying an additional 5,384,615 shares in the last quarter. Renaissance Technologies LLC increased its stake in Lexicon Pharmaceuticals by 508.0% during the 1st quarter. Renaissance Technologies LLC now owns 1,600,500 shares of the biopharmaceutical company’s stock valued at $2,497,000 after purchasing an additional 1,337,246 shares in the last quarter. ADAR1 Capital Management LLC bought a new stake in shares of Lexicon Pharmaceuticals in the 1st quarter worth $1,170,000. Bank of New York Mellon Corp purchased a new stake in Lexicon Pharmaceuticals during the second quarter worth about $1,365,000. Finally, Bank of America Corp DE lifted its stake in shares of Lexicon Pharmaceuticals by 415.3% during the 1st quarter. Bank of America Corp DE now owns 526,103 shares of the biopharmaceutical company’s stock valued at $821,000 after buying an additional 424,006 shares in the last quarter. 74.70% of the stock is currently owned by institutional investors and hedge funds.

About Lexicon Pharmaceuticals

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for serious and chronic diseases. The company uses its drug discovery platform to identify small-molecule treatments designed to target specific biological pathways, with an emphasis on metabolic, cardiovascular and neurological conditions.

Lexicon’s commercial products include INPEFA (sotagliflozin), an oral medicine approved in the United States to reduce the risk of cardiovascular death, hospitalization for heart failure and urgent heart-failure visits in certain adults with heart failure or type 2 diabetes and chronic kidney disease.