Nantahala Capital Management LLC Boosts Stake in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)

Nantahala Capital Management LLC raised its holdings in shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Free Report) by 186.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,604,150 shares of the biopharmaceutical company's stock after buying an additional 4,300,000 shares during the period. Nantahala Capital Management LLC owned about 2.68% of Lexicon Pharmaceuticals worth $4,877,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. RPO LLC bought a new position in Lexicon Pharmaceuticals during the 4th quarter worth approximately $33,000. Renaissance Technologies LLC bought a new position in shares of Lexicon Pharmaceuticals in the fourth quarter worth approximately $38,000. Arizona State Retirement System increased its stake in shares of Lexicon Pharmaceuticals by 34.4% in the fourth quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company's stock worth $47,000 after buying an additional 16,136 shares during the period. Teacher Retirement System of Texas raised its holdings in Lexicon Pharmaceuticals by 60.3% during the 4th quarter. Teacher Retirement System of Texas now owns 65,415 shares of the biopharmaceutical company's stock valued at $48,000 after buying an additional 24,615 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Lexicon Pharmaceuticals during the 4th quarter valued at $66,000. 74.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

LXRX has been the topic of several recent analyst reports. Piper Sandler cut their target price on Lexicon Pharmaceuticals from $10.00 to $6.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. Needham & Company LLC restated a "hold" rating on shares of Lexicon Pharmaceuticals in a report on Monday, March 3rd. StockNews.com began coverage on Lexicon Pharmaceuticals in a report on Monday, April 21st. They set a "sell" rating on the stock. Leerink Partners restated a "market perform" rating and issued a $1.00 target price (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a research note on Tuesday, March 4th. Finally, Leerink Partnrs cut Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Lexicon Pharmaceuticals presently has an average rating of "Hold" and an average price target of $3.67.

Lexicon Pharmaceuticals Stock Down 6.1 %

Shares of LXRX stock traded down $0.04 during trading hours on Friday, hitting $0.68. 3,490,487 shares of the company's stock traded hands, compared to its average volume of 6,482,048. The company has a quick ratio of 7.43, a current ratio of 7.45 and a debt-to-equity ratio of 0.56. The stock's fifty day simple moving average is $0.49 and its two-hundred day simple moving average is $0.80. Lexicon Pharmaceuticals, Inc. has a 12-month low of $0.28 and a 12-month high of $2.45. The stock has a market cap of $167.59 million, a price-to-earnings ratio of -0.91 and a beta of 1.02.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last announced its quarterly earnings data on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.02. The business had revenue of $26.55 million during the quarter, compared to analysts' expectations of $6.48 million. Lexicon Pharmaceuticals had a negative return on equity of 107.38% and a negative net margin of 4,109.41%. On average, analysts expect that Lexicon Pharmaceuticals, Inc. will post -0.66 EPS for the current year.

Lexicon Pharmaceuticals 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.