Lexicon Pharmaceuticals, Inc. $LXRX Shares Acquired by Siren L.L.C.

Key Points

• Siren L.L.C. boosted its Lexicon Pharmaceuticals stake by 13.8% in the first quarter, buying 5.38 million additional shares and bringing its total to 44.3 million shares, or about 9.97% of the company.
• Other institutional investors also added to their positions, including Vanguard, Millennium Management, UBS, and Geode, with 74.7% of Lexicon’s stock owned by institutions and hedge funds.
• Lexicon reported mixed fundamentals and sentiment: it beat quarterly earnings and revenue estimates, while analysts currently rate the stock Moderate Buy with an average price target of $4.55, above its recent trading price near $2.30.

Siren L.L.C. increased its position in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Free Report) by 13.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 44,303,518 shares of the biopharmaceutical company's stock after purchasing an additional 5,384,615 shares during the period. Lexicon Pharmaceuticals accounts for about 1.9% of Siren L.L.C.'s holdings, making the stock its 14th biggest holding. Siren L.L.C. owned 9.97% of Lexicon Pharmaceuticals worth $69,113,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Lexicon Pharmaceuticals by 7.6% during the third quarter. Vanguard Group Inc. now owns 9,521,874 shares of the biopharmaceutical company's stock worth $12,855,000 after buying an additional 670,838 shares during the period. Millennium Management LLC boosted its holdings in shares of Lexicon Pharmaceuticals by 25.9% in the fourth quarter. Millennium Management LLC now owns 4,821,733 shares of the biopharmaceutical company's stock valued at $5,545,000 after acquiring an additional 991,073 shares during the period. UBS Group AG grew its position in shares of Lexicon Pharmaceuticals by 752.1% during the fourth quarter. UBS Group AG now owns 3,007,237 shares of the biopharmaceutical company's stock worth $3,458,000 after acquiring an additional 2,654,315 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Lexicon Pharmaceuticals by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 2,500,022 shares of the biopharmaceutical company's stock worth $2,876,000 after acquiring an additional 102,099 shares during the last quarter. Finally, CIBC Bancorp USA Inc. acquired a new position in shares of Lexicon Pharmaceuticals in the 3rd quarter valued at $3,240,000. 74.70% of the stock is owned by institutional investors and hedge funds.

Lexicon Pharmaceuticals Price Performance

Lexicon Pharmaceuticals stock opened at $2.30 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 18.80 and a quick ratio of 18.77. The business has a 50 day simple moving average of $2.16 and a 200-day simple moving average of $1.78. Lexicon Pharmaceuticals, Inc. has a 12 month low of $1.00 and a 12 month high of $2.68. The stock has a market capitalization of $1.02 billion, a PE ratio of -32.85 and a beta of 1.05.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.00) earnings per share for the quarter, beating analysts' consensus estimates of ($0.04) by $0.04. The firm had revenue of $21.10 million for the quarter, compared to analyst estimates of $9.79 million. Lexicon Pharmaceuticals had a negative net margin of 37.46% and a negative return on equity of 18.64%. Equities analysts predict that Lexicon Pharmaceuticals, Inc. will post -0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on LXRX shares. Zacks Research upgraded shares of Lexicon Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 3rd. Citigroup lifted their price objective on shares of Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the company a "buy" rating in a research note on Monday, May 11th. Finally, Weiss Ratings cut shares of Lexicon Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $4.55.

Lexicon Pharmaceuticals 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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