Point72 Asset Management L.P. Cuts Position in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)

Point72 Asset Management L.P. trimmed its position in shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) by 70.2% during the 3rd quarter, Holdings Channel reports. The fund owned 1,230,050 shares of the biopharmaceutical company’s stock after selling 2,891,141 shares during the period. Point72 Asset Management L.P.’s holdings in Lexicon Pharmaceuticals were worth $1,931,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CVI Holdings LLC bought a new stake in Lexicon Pharmaceuticals in the second quarter worth $34,000. Principal Financial Group Inc. increased its holdings 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 buying an additional 12,225 shares during the last quarter. Great Point Partners LLC purchased a new stake in shares of Lexicon Pharmaceuticals during the 2nd quarter valued at about $50,000. BNP Paribas Financial Markets lifted its holdings in shares of Lexicon Pharmaceuticals by 71.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock valued at $50,000 after acquiring an additional 13,246 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Lexicon Pharmaceuticals by 107.6% in the 3rd quarter. SG Americas Securities LLC now owns 46,090 shares of the biopharmaceutical company’s stock valued at $72,000 after acquiring an additional 23,893 shares during the last quarter. 74.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on LXRX shares. Leerink Partners set a $6.00 price objective on Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research report on Friday, October 18th. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Lexicon Pharmaceuticals in a report on Wednesday, November 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.00.

Lexicon Pharmaceuticals Stock Up 4.4 %

Shares of NASDAQ LXRX opened at $0.74 on Tuesday. The company has a market cap of $181.26 million, a P/E ratio of -0.98 and a beta of 1.07. The firm has a 50-day simple moving average of $1.34 and a two-hundred day simple moving average of $1.62. Lexicon Pharmaceuticals, Inc. has a 1 year low of $0.62 and a 1 year high of $3.73. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.45 and a quick ratio of 7.43.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings data on Tuesday, November 12th. The biopharmaceutical company reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. The business had revenue of $1.75 million for the quarter, compared to analysts’ expectations of $3.14 million. During the same quarter in the previous year, the firm earned ($0.21) EPS. Research analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.66 earnings per share for the current year.

About Lexicon Pharmaceuticals

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.