Fmr LLC Has $78.29 Million Position in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)

FMR LLC lifted its position in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Free Report) by 28.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,867,042 shares of the biopharmaceutical company's stock after acquiring an additional 11,179,919 shares during the period. FMR LLC owned approximately 20.25% of Lexicon Pharmaceuticals worth $78,291,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LXRX. Point72 Asset Management L.P. raised its holdings 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 worth $6,924,000 after buying an additional 3,536,805 shares during the period. Nantahala Capital Management LLC acquired a new stake in Lexicon Pharmaceuticals during the 2nd quarter worth approximately $3,871,000. Marshall Wace LLP raised its holdings 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 worth $2,000,000 after buying an additional 691,276 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in Lexicon Pharmaceuticals during the 2nd quarter worth approximately $912,000. Finally, Vanguard Group Inc. raised its holdings 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 worth $15,363,000 after buying an additional 420,854 shares during the period. 74.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on LXRX. Needham & Company LLC reaffirmed a "hold" rating on shares of Lexicon Pharmaceuticals in a research note on Friday, November 22nd. HC Wainwright reaffirmed a "buy" rating and set a $6.00 price target on shares of Lexicon Pharmaceuticals in a research note on Wednesday, November 13th. Finally, Leerink Partners set a $6.00 price target on shares of Lexicon Pharmaceuticals and gave the stock 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 given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $6.00.

Lexicon Pharmaceuticals Stock Performance

Shares of LXRX traded up $0.06 during midday trading on Friday, reaching $0.71. 3,349,991 shares of the stock were exchanged, compared to its average volume of 3,494,963. The company has a market cap of $173.62 million, a P/E ratio of -0.94 and a beta of 1.07. The stock's 50 day simple moving average is $1.36 and its 200 day simple moving average is $1.63. Lexicon Pharmaceuticals, Inc. has a twelve month low of $0.62 and a twelve month high of $3.73. The company has a quick ratio of 7.43, a current ratio of 7.45 and a debt-to-equity ratio of 0.56.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.18) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.01). The company had revenue of $1.75 million during the quarter, compared to analyst estimates of $3.14 million. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. During the same period last year, the firm earned ($0.21) EPS. On average, sell-side analysts expect 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.