Lexicon Pharmaceuticals, Inc. $LXRX Stake Reduced by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. has reduced its stake in Lexicon Pharmaceuticals by 34.3%, now owning approximately 0.10% of the company valued at $164,000.
• In the recent quarter, several institutional investors have either purchased new positions or increased their stakes in Lexicon Pharmaceuticals, indicating ongoing interest in the biopharmaceutical company's stock.
• Lexicon Pharmaceuticals reported earnings of $0.01 per share, surpassing analysts' expectations, with a revenue of $28.87 million that significantly exceeded estimates of $4.87 million.

Goldman Sachs Group Inc. reduced its stake in shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Free Report) by 34.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 355,152 shares of the biopharmaceutical company's stock after selling 185,055 shares during the quarter. Goldman Sachs Group Inc. owned about 0.10% of Lexicon Pharmaceuticals worth $164,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in LXRX. Straight Path Wealth Management bought a new position in shares of Lexicon Pharmaceuticals in the first quarter worth $29,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Lexicon Pharmaceuticals in the first quarter worth $32,000. CWM LLC grew its stake in shares of Lexicon Pharmaceuticals by 9,228.4% in the first quarter. CWM LLC now owns 105,504 shares of the biopharmaceutical company's stock worth $49,000 after purchasing an additional 104,373 shares in the last quarter. Bank of America Corp DE grew its stake in shares of Lexicon Pharmaceuticals by 27.4% in the fourth quarter. Bank of America Corp DE now owns 136,407 shares of the biopharmaceutical company's stock worth $101,000 after purchasing an additional 29,319 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Lexicon Pharmaceuticals by 76.5% in the first quarter. Cerity Partners LLC now owns 170,387 shares of the biopharmaceutical company's stock worth $79,000 after purchasing an additional 73,875 shares in the last quarter. 74.70% of the stock is currently owned by institutional investors.

Lexicon Pharmaceuticals Trading Down 0.7%

Shares of Lexicon Pharmaceuticals stock opened at $1.39 on Tuesday. The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.43. Lexicon Pharmaceuticals, Inc. has a fifty-two week low of $0.28 and a fifty-two week high of $2.18. The firm has a market cap of $505.12 million, a price-to-earnings ratio of -4.21 and a beta of 1.26. The business has a fifty day simple moving average of $1.14 and a 200-day simple moving average of $0.84.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.09. Lexicon Pharmaceuticals had a negative return on equity of 83.63% and a negative net margin of 206.43%.The business had revenue of $28.87 million during the quarter, compared to analyst estimates of $4.87 million. On average, equities analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.66 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently issued reports on LXRX. HC Wainwright reissued a "buy" rating and issued a $4.00 price target on shares of Lexicon Pharmaceuticals in a research note on Tuesday, September 2nd. Citigroup increased their price target on Lexicon Pharmaceuticals from $1.20 to $1.90 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Lexicon Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $3.23.

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.

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