Siren L.L.C. Sells 35,402,689 Shares of Lexicon Pharmaceuticals, Inc. $LXRX

Key Points

• Siren L.L.C. has significantly reduced its stake in Lexicon Pharmaceuticals, lowering its holdings by 91% to approximately 3.5 million shares, valued at about $1.6 million.
• Several large investors have recently made substantial increases in their positions, with Point72 Asset Management boosting its stake by over 630% to nearly 9 million shares.
• Analysts maintain a consensus rating of "Moderate Buy" for Lexicon Pharmaceuticals, with an average target price of $3.23 following recent positive earnings reports.

Siren L.L.C. reduced its stake in shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Free Report) by 91.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,516,214 shares of the biopharmaceutical company's stock after selling 35,402,689 shares during the period. Siren L.L.C. owned about 0.97% of Lexicon Pharmaceuticals worth $1,620,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Straight Path Wealth Management purchased a new position in Lexicon Pharmaceuticals during the first quarter worth about $29,000. Bayesian Capital Management LP bought a new position in Lexicon Pharmaceuticals during the 4th quarter worth approximately $31,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Lexicon Pharmaceuticals in the first quarter worth approximately $32,000. Renaissance Technologies LLC bought a new stake in Lexicon Pharmaceuticals in the 4th quarter worth $38,000. Finally, CWM LLC lifted its stake in 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 acquiring an additional 104,373 shares during the period. Institutional investors own 74.70% of the company's stock.

Lexicon Pharmaceuticals Trading Down 1.3%

Shares of NASDAQ:LXRX traded down $0.02 during mid-day trading on Wednesday, hitting $1.11. The stock had a trading volume of 729,352 shares, compared to its average volume of 8,257,479. Lexicon Pharmaceuticals, Inc. has a 12-month low of $0.28 and a 12-month high of $2.18. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.16 and a current ratio of 4.16. The company has a market cap of $401.56 million, a PE ratio of -3.35 and a beta of 1.26. The company's 50 day moving average is $1.09 and its 200-day moving average is $0.76.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The biopharmaceutical company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.09. Lexicon Pharmaceuticals had a negative net margin of 206.43% and a negative return on equity of 83.63%. The firm had revenue of $28.87 million for the quarter, compared to the consensus estimate of $4.87 million. On average, sell-side analysts predict that Lexicon Pharmaceuticals, Inc. will post -0.66 EPS for the current year.

Analyst Upgrades and Downgrades

LXRX has been the subject of a number of research reports. HC Wainwright reiterated a "buy" rating and issued a $4.00 price objective on shares of Lexicon Pharmaceuticals in a report on Tuesday. Citigroup increased their price target on Lexicon Pharmaceuticals from $1.20 to $1.90 and gave the company a "buy" rating in a report on Thursday, August 7th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Lexicon Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $3.23.

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.