Point72 Asset Management L.P. Sells 2,891,141 Shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)

Point72 Asset Management L.P. decreased its position in shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Free Report) by 70.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,230,050 shares of the biopharmaceutical company's stock after selling 2,891,141 shares during the quarter. Point72 Asset Management L.P. owned about 0.50% of Lexicon Pharmaceuticals worth $1,931,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC grew its holdings in Lexicon Pharmaceuticals by 28.9% during the 3rd quarter. FMR LLC now owns 49,867,042 shares of the biopharmaceutical company's stock worth $78,291,000 after acquiring an additional 11,179,919 shares during the period. Vanguard Group Inc. boosted its stake in Lexicon Pharmaceuticals by 7.0% during the first quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company's stock worth $15,363,000 after acquiring an additional 420,854 shares in the last quarter. Nantahala Capital Management LLC acquired a new position in shares of Lexicon Pharmaceuticals during the second quarter valued at about $3,871,000. Pinnacle Associates Ltd. grew its stake in shares of Lexicon Pharmaceuticals by 0.9% in the 3rd quarter. Pinnacle Associates Ltd. now owns 1,730,821 shares of the biopharmaceutical company's stock valued at $2,648,000 after buying an additional 14,990 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Lexicon Pharmaceuticals by 4.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,417,295 shares of the biopharmaceutical company's stock valued at $2,225,000 after buying an additional 58,147 shares in the last quarter. Institutional investors and hedge funds own 74.70% of the company's stock.

Lexicon Pharmaceuticals Stock Performance

Lexicon Pharmaceuticals stock traded down $0.00 during mid-day trading on Tuesday, reaching $0.73. 1,171,504 shares of the company's stock were exchanged, compared to its average volume of 3,479,870. The firm has a market capitalization of $180.10 million, a PE ratio of -0.99 and a beta of 1.07. The company has a quick ratio of 7.43, a current ratio of 7.45 and a debt-to-equity ratio of 0.56. The business's fifty day simple moving average is $1.34 and its 200 day simple moving average is $1.62. Lexicon Pharmaceuticals, Inc. has a one year low of $0.62 and a one year high of $3.73.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The company had revenue of $1.75 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the company posted ($0.21) EPS. On average, sell-side analysts expect that Lexicon Pharmaceuticals, Inc. will post -0.66 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on LXRX shares. Leerink Partners set a $6.00 target price on Lexicon Pharmaceuticals and gave the stock an "outperform" rating in a report on Friday, October 18th. Needham & Company LLC reaffirmed a "hold" rating on shares of Lexicon Pharmaceuticals in a research report on Friday, November 22nd. Finally, HC Wainwright reissued a "buy" rating and issued a $6.00 price target on shares of Lexicon Pharmaceuticals in a research report on Wednesday, November 13th. One 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's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $6.00.

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.