Cantor Fitzgerald Begins Coverage on Lexicon Pharmaceuticals (NASDAQ:LXRX)

Equities research analysts at Cantor Fitzgerald assumed coverage on shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $8.00 price target on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 325.53% from the stock’s previous close.

A number of other research firms also recently weighed in on LXRX. Weiss Ratings raised shares of Lexicon Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 23rd. Zacks Research downgraded shares of Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen cut Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.70.

Lexicon Pharmaceuticals Stock Down 1.1%

LXRX stock opened at $1.88 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 13.37 and a quick ratio of 13.29. The stock has a market capitalization of $836.52 million, a P/E ratio of -12.53 and a beta of 1.02. The business has a 50-day moving average of $2.22 and a 200-day moving average of $2.05. Lexicon Pharmaceuticals has a fifty-two week low of $1.10 and a fifty-two week high of $2.68.

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 analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $0.69 million during the quarter, compared to analyst estimates of $3.99 million. Lexicon Pharmaceuticals had a negative net margin of 147.38% and a negative return on equity of 37.53%. On average, sell-side analysts anticipate that Lexicon Pharmaceuticals will post -0.17 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. WINTON GROUP Ltd increased its stake in shares of Lexicon Pharmaceuticals by 69.4% during the 2nd quarter. WINTON GROUP Ltd now owns 43,200 shares of the biopharmaceutical company’s stock worth $104,000 after purchasing an additional 17,700 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Lexicon Pharmaceuticals in the 2nd quarter valued at about $28,000. AXQ Capital LP lifted its stake in Lexicon Pharmaceuticals by 126.9% in the 2nd quarter. AXQ Capital LP now owns 45,727 shares of the biopharmaceutical company’s stock valued at $110,000 after purchasing an additional 25,577 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Lexicon Pharmaceuticals in the 2nd quarter valued at about $431,000. Finally, Bank of New York Mellon Corp bought a new position in Lexicon Pharmaceuticals during the second quarter worth about $1,365,000. Institutional investors own 74.70% of the company’s stock.

Lexicon Pharmaceuticals News Summary

Here are the key news stories impacting Lexicon Pharmaceuticals this week:

• Positive Sentiment: Cantor Fitzgerald initiated coverage with an Overweight rating and an $8 price target, implying substantial upside from recent trading levels. The firm believes Lexicon has an “unencumbered path” toward an HCM opportunity for Inpefa. Cantor Fitzgerald Initiates Lexicon Pharmaceuticals at Overweight With $8 Price Target
• Positive Sentiment: The analyst views sotagliflozin as having strong potential to win FDA approval for a new indication, creating a possible catalyst for Lexicon’s pipeline and commercial outlook. This optimism helped drive the recent advance in LXRX shares. Why Lexicon Pharmaceuticals Stock Popped by Almost 6% Today
• Neutral Sentiment: The $8 target is materially above the broader reported analyst average of approximately $5.70, indicating significant upside expectations but also showing that the bullish outlook is based on a single new coverage opinion rather than a broad analyst consensus. Lexicon Pharmaceuticals Stock Has Average Target Price of $5.70
• Negative Sentiment: The news does not represent an FDA approval or a new clinical result. Lexicon remains loss-making, and its latest reported quarter missed both EPS and revenue expectations, leaving execution and regulatory risk as important counterweights to Cantor’s optimistic forecast.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company that discovers and develops medicines for human disease. Founded in 1995 and headquartered in The Woodlands, Texas, the company uses its drug-discovery platform and expertise in biology to identify potential treatments for conditions with significant unmet medical needs.

Lexicon’s marketed products include XERMELO (telotristat ethyl), an oral medicine used to treat carcinoid syndrome diarrhea in adults whose symptoms are not adequately controlled by somatostatin analog therapy.