Pinnacle Associates Ltd. Has $2.65 Million Stock Position in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)

Pinnacle Associates Ltd. increased its stake in shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,730,821 shares of the biopharmaceutical company’s stock after buying an additional 14,990 shares during the period. Pinnacle Associates Ltd. owned 0.70% of Lexicon Pharmaceuticals worth $2,648,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LXRX. Vanguard Group Inc. lifted its position in Lexicon Pharmaceuticals by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company’s stock valued at $15,363,000 after purchasing an additional 420,854 shares during the period. Point72 Asset Management L.P. lifted its position in Lexicon Pharmaceuticals by 605.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 4,121,191 shares of the biopharmaceutical company’s stock valued at $6,924,000 after purchasing an additional 3,536,805 shares during the period. Nantahala Capital Management LLC acquired a new position in Lexicon Pharmaceuticals during the 2nd quarter valued at about $3,871,000. Marshall Wace LLP lifted its position in Lexicon Pharmaceuticals by 138.5% during the 2nd quarter. Marshall Wace LLP now owns 1,190,448 shares of the biopharmaceutical company’s stock valued at $2,000,000 after purchasing an additional 691,276 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its position in Lexicon Pharmaceuticals by 34.7% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 731,138 shares of the biopharmaceutical company’s stock valued at $1,148,000 after purchasing an additional 188,239 shares during the period. Institutional investors and hedge funds own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Price Performance

NASDAQ LXRX opened at $1.22 on Friday. The business has a 50 day simple moving average of $1.72 and a 200 day simple moving average of $1.76. Lexicon Pharmaceuticals, Inc. has a 52-week low of $0.92 and a 52-week high of $3.73. 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 market cap of $300.41 million, a price-to-earnings ratio of -1.56 and a beta of 1.28.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) earnings per share (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 business had revenue of $1.65 million during the quarter, compared to analysts’ expectations of $2.74 million. During the same period in the prior year, the business earned ($0.22) EPS. Analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LXRX has been the topic of a number of research reports. StockNews.com upgraded shares of Lexicon Pharmaceuticals to a “sell” rating in a research report on Tuesday, July 9th. HC Wainwright restated a “buy” rating and set a $10.00 target price on shares of Lexicon Pharmaceuticals in a research report on Wednesday. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Wednesday. Finally, Leerink Partners set a $6.00 price target on Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $8.00.

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.