Point72 Asset Management L.P. Acquires 7,758,371 Shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)

Point72 Asset Management L.P. increased its holdings in shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Free Report) by 630.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,988,421 shares of the biopharmaceutical company's stock after purchasing an additional 7,758,371 shares during the quarter. Point72 Asset Management L.P. owned 3.65% of Lexicon Pharmaceuticals worth $6,638,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of LXRX. Schonfeld Strategic Advisors LLC increased its stake 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 purchasing an additional 5,676,021 shares in the last quarter. Nantahala Capital Management LLC increased its stake 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 purchasing an additional 4,300,000 shares in the last quarter. Boothbay Fund Management LLC bought a new stake in Lexicon Pharmaceuticals during the 4th quarter worth approximately $355,000. Deutsche Bank AG grew its stake in shares of Lexicon Pharmaceuticals by 378.0% during the 4th quarter. Deutsche Bank AG now owns 315,659 shares of the biopharmaceutical company's stock worth $234,000 after acquiring an additional 249,616 shares in the last quarter. Finally, Virtus ETF Advisers LLC grew its stake in shares of Lexicon Pharmaceuticals by 136.3% during the 4th quarter. Virtus ETF Advisers LLC now owns 425,269 shares of the biopharmaceutical company's stock worth $314,000 after acquiring an additional 245,297 shares in the last quarter. 74.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LXRX. Piper Sandler decreased their price target on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. StockNews.com began coverage on shares of Lexicon Pharmaceuticals in a research note on Monday, April 21st. They set a "sell" rating for the company. HC Wainwright reaffirmed a "buy" rating and set a $4.00 price target on shares of Lexicon Pharmaceuticals in a research note on Friday, March 28th. Needham & Company LLC reaffirmed a "hold" rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. Finally, Leerink Partnrs cut shares of Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $3.67.

Lexicon Pharmaceuticals Price Performance

NASDAQ:LXRX opened at $0.56 on Tuesday. Lexicon Pharmaceuticals, Inc. has a 1-year low of $0.28 and a 1-year high of $2.45. The company has a current ratio of 7.45, a quick ratio of 7.43 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $0.53 and a 200 day simple moving average of $0.69. The stock has a market capitalization of $200.92 million, a PE ratio of -0.74 and a beta of 1.07.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last released 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 business had revenue of $1.26 million during the quarter, compared to analysts' expectations of $1.26 million. On average, research analysts expect that Lexicon Pharmaceuticals, Inc. will post -0.66 EPS for the current fiscal 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.

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