Tang Capital Management LLC Boosts Position in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)

Tang Capital Management LLC increased its holdings in shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Free Report) by 750.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 850,268 shares of the biopharmaceutical company's stock after purchasing an additional 750,268 shares during the period. Tang Capital Management LLC owned 0.35% of Lexicon Pharmaceuticals worth $628,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Point72 Asset Management L.P. raised its position in Lexicon Pharmaceuticals by 630.7% during the 4th quarter. Point72 Asset Management L.P. now owns 8,988,421 shares of the biopharmaceutical company's stock worth $6,638,000 after buying an additional 7,758,371 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its position in Lexicon Pharmaceuticals by 301.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 7,558,621 shares of the biopharmaceutical company's stock worth $5,582,000 after buying an additional 5,676,021 shares during the last quarter. Nantahala Capital Management LLC raised its position in Lexicon Pharmaceuticals by 186.6% during the 4th quarter. Nantahala Capital Management LLC now owns 6,604,150 shares of the biopharmaceutical company's stock worth $4,877,000 after buying an additional 4,300,000 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in Lexicon Pharmaceuticals during the 4th quarter worth $355,000. Finally, Deutsche Bank AG increased its holdings in shares of Lexicon Pharmaceuticals by 378.0% in the 4th quarter. Deutsche Bank AG now owns 315,659 shares of the biopharmaceutical company's stock valued at $234,000 after purchasing an additional 249,616 shares in the last quarter. Institutional investors and hedge funds own 74.70% of the company's stock.

Analysts Set New Price Targets

LXRX has been the subject of a number of research analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Lexicon Pharmaceuticals in a report on Monday, March 3rd. Piper Sandler cut their price target on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an "overweight" rating for the company in a report on Friday, March 7th. Wall Street Zen initiated coverage on shares of Lexicon Pharmaceuticals in a report on Monday, April 21st. They issued a "sell" rating for the company. HC Wainwright reiterated a "buy" rating and issued a $4.00 price target on shares of Lexicon Pharmaceuticals in a report on Friday, March 28th. Finally, Leerink Partners reiterated a "market perform" rating and issued a $1.00 price target (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $3.67.

Lexicon Pharmaceuticals Price Performance

NASDAQ:LXRX traded down $0.00 during mid-day trading on Friday, hitting $0.66. 3,186,387 shares of the company's stock traded hands, compared to its average volume of 6,614,882. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.43 and a current ratio of 7.45. The firm's 50 day simple moving average is $0.55 and its 200 day simple moving average is $0.68. Lexicon Pharmaceuticals, Inc. has a 1 year low of $0.28 and a 1 year high of $2.45. The company has a market cap of $238.55 million, a PE ratio of -0.88 and a beta of 1.07.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last posted its earnings results on Tuesday, May 13th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.03. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. The firm had revenue of $1.26 million during the quarter, compared to the consensus estimate of $1.26 million. Sell-side analysts expect that Lexicon Pharmaceuticals, Inc. will post -0.66 EPS for the current year.

Lexicon Pharmaceuticals Company Profile

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.