Bank of New York Mellon Corp Makes New Investment in Lexicon Pharmaceuticals, Inc. $LXRX

Key Points

• Bank of New York Mellon acquired 568,706 shares of Lexicon Pharmaceuticals in the second quarter, worth approximately $1.37 million and representing about 0.13% of the company. Institutional investors collectively own 74.7% of LXRX.
• Lexicon shares opened at $2.15, down 3.6%, after the company reported a quarterly loss of $0.06 per share versus the expected $0.05 loss and revenue of $0.69 million, well below the $3.99 million consensus estimate.
• Analyst sentiment is mixed, with a consensus rating of “Hold” and a target price of $4.55. Recent research firms included rating downgrades to “Hold” and “Sell.”

Bank of New York Mellon Corp purchased a new stake in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 568,706 shares of the biopharmaceutical company's stock, valued at approximately $1,365,000. Bank of New York Mellon Corp owned about 0.13% of Lexicon Pharmaceuticals as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Hudson Bay Capital Management LP acquired a new position in Lexicon Pharmaceuticals during the second quarter valued at approximately $26,000. CTC Alternative Strategies Ltd. acquired a new position in Lexicon Pharmaceuticals during the first quarter worth $27,000. Security National Bank of Sioux City Iowa IA bought a new position in shares of Lexicon Pharmaceuticals in the 4th quarter valued at about $31,000. Leonteq Securities AG bought a new position in shares of Lexicon Pharmaceuticals in the fourth quarter valued at $34,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Lexicon Pharmaceuticals in the 4th quarter valued at about $39,000. 74.70% of the stock is currently owned by institutional investors.

Lexicon Pharmaceuticals Stock Down 3.6%

Shares of NASDAQ:LXRX opened at $2.15 on Thursday. The company has a market capitalization of $956.66 million, a PE ratio of -14.33 and a beta of 1.02. The business has a fifty day moving average price of $2.30 and a two-hundred day moving average price of $2.01. The company has a debt-to-equity ratio of 0.29, a current ratio of 13.37 and a quick ratio of 13.29. Lexicon Pharmaceuticals, Inc. has a 1 year low of $1.06 and a 1 year high of $2.68.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $0.69 million during the quarter, compared to the consensus estimate of $3.99 million. Lexicon Pharmaceuticals had a negative return on equity of 37.53% and a negative net margin of 147.38%. Analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LXRX. Weiss Ratings upgraded shares of Lexicon Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, July 23rd. Zacks Research lowered Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 3rd. Finally, Wall Street Zen cut Lexicon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Lexicon Pharmaceuticals has a consensus rating of "Hold" and a consensus target price of $4.55.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company focused on the discovery and development of novel medicines through its proprietary genome biology platform. By leveraging large-scale gene knockout libraries, the company identifies potential therapeutic targets and advances them through preclinical and clinical development. Lexicon's approach emphasizes the translation of genetic insights into targeted therapies for a range of human diseases.

The company's most advanced product is telotristat ethyl (sold under the brand name XERMELO), an oral treatment approved for the management of carcinoid syndrome diarrhea in patients inadequately controlled by somatostatin analog therapy.

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