Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Rating Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) from a sell rating to a strong sell rating in a report released on Saturday morning,Wall Street Zen reports.

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

Lexicon Pharmaceuticals Stock Down 4.1%

Lexicon Pharmaceuticals stock opened at $1.42 on Friday. The firm has a market cap of $631.84 million, a price-to-earnings ratio of -9.47 and a beta of 1.07. Lexicon Pharmaceuticals has a 52 week low of $1.10 and a 52 week high of $2.68. The business’s 50-day moving average price is $1.89 and its 200 day moving average price is $1.88. The company has a quick ratio of 13.29, a current ratio of 13.37 and a debt-to-equity ratio of 0.29.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates 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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Siren L.L.C. grew its stake 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 acquiring an additional 5,384,615 shares during the period. Renaissance Technologies LLC raised its position in Lexicon Pharmaceuticals by 508.0% during the first quarter. Renaissance Technologies LLC now owns 1,600,500 shares of the biopharmaceutical company’s stock worth $2,497,000 after acquiring an additional 1,337,246 shares during the period. Bank of New York Mellon Corp acquired a new position in Lexicon Pharmaceuticals during the second quarter worth $1,365,000. ADAR1 Capital Management LLC acquired a new position in Lexicon Pharmaceuticals during the first quarter worth $1,170,000. Finally, Bank of America Corp DE lifted its holdings in Lexicon Pharmaceuticals by 415.3% during the first quarter. Bank of America Corp DE now owns 526,103 shares of the biopharmaceutical company’s stock valued at $821,000 after purchasing an additional 424,006 shares in the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Company Profile

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.