Point72 Asset Management L.P. Grows Stock Holdings in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)

Point72 Asset Management L.P. lifted its position in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) by 605.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,121,191 shares of the biopharmaceutical company’s stock after buying an additional 3,536,805 shares during the period. Point72 Asset Management L.P. owned approximately 1.67% of Lexicon Pharmaceuticals worth $6,924,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cantor Fitzgerald L. P. acquired a new stake in Lexicon Pharmaceuticals in the fourth quarter valued at approximately $25,000. CVI Holdings LLC purchased a new stake in shares of Lexicon Pharmaceuticals during the 2nd quarter valued at $34,000. Principal Financial Group Inc. boosted its position in shares of Lexicon Pharmaceuticals by 116.1% in the 2nd quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company’s stock worth $38,000 after purchasing an additional 12,225 shares in the last quarter. Great Point Partners LLC purchased a new position in Lexicon Pharmaceuticals during the 2nd quarter worth $50,000. Finally, Victory Capital Management Inc. increased its position in Lexicon Pharmaceuticals by 44.5% during the 2nd quarter. Victory Capital Management Inc. now owns 45,341 shares of the biopharmaceutical company’s stock valued at $76,000 after buying an additional 13,972 shares in the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LXRX. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Lexicon Pharmaceuticals in a report on Friday, September 27th. StockNews.com upgraded shares of Lexicon Pharmaceuticals to a “sell” rating in a research note on Tuesday, July 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $7.50.

Lexicon Pharmaceuticals Stock Performance

Shares of LXRX opened at $1.58 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 11.49 and a current ratio of 11.51. The stock has a 50-day moving average of $1.74 and a two-hundred day moving average of $1.82. The stock has a market cap of $389.05 million, a P/E ratio of -1.90 and a beta of 1.33. Lexicon Pharmaceuticals, Inc. has a one year low of $0.92 and a one year high of $3.73.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. Lexicon Pharmaceuticals had a negative return on equity of 105.38% and a negative net margin of 5,509.34%. The firm had revenue of $1.65 million during the quarter, compared to the consensus estimate of $2.74 million. During the same quarter in the previous year, the company posted ($0.22) earnings per share. As a group, research analysts predict that Lexicon Pharmaceuticals, Inc. will post -0.69 EPS for the current year.

Lexicon Pharmaceuticals Profile

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.