Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Stock Now Rated “Hold” by Sell-Side Brokerages

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) has earned a consensus recommendation of “Hold” from the five brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $5.70.

A number of analysts recently commented on the company. Wall Street Zen lowered Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings reaffirmed 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 began coverage on Lexicon Pharmaceuticals in a research note on Monday, September 28th. They issued an “overweight” rating and a $8.00 price objective for the company.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Large investors have recently modified their holdings of the company. Siren L.L.C. grew its position in 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 purchasing an additional 5,384,615 shares during the period. 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 acquired a new position in Lexicon Pharmaceuticals during the first quarter worth $1,170,000. Bank of New York Mellon Corp acquired a new position in Lexicon Pharmaceuticals during the second quarter worth $1,365,000. Finally, Bank of America Corp DE lifted its stake in shares of Lexicon Pharmaceuticals by 415.3% in the first 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.

Lexicon Pharmaceuticals Trading Up 2.1%

NASDAQ:LXRX opened at $1.48 on Friday. Lexicon Pharmaceuticals has a 12 month low of $1.10 and a 12 month high of $2.68. The stock has a market capitalization of $658.53 million, a price-to-earnings ratio of -9.87 and a beta of 1.07. The firm has a fifty day simple moving average of $1.94 and a two-hundred day simple moving average of $1.88.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $0.69 million for the quarter, compared to analysts’ expectations of $3.99 million. Equities analysts predict that Lexicon Pharmaceuticals will post -0.17 earnings per share for the current fiscal year.

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.