Hennion & Walsh Asset Management Inc. Increases Stock Position in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)

Hennion & Walsh Asset Management Inc. grew its holdings in shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) by 34.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 731,138 shares of the biopharmaceutical company’s stock after buying an additional 188,239 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Lexicon Pharmaceuticals were worth $1,148,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LXRX. Compagnie Lombard Odier SCmA lifted its position in Lexicon Pharmaceuticals by 6.4% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 100,000 shares of the biopharmaceutical company’s stock valued at $157,000 after acquiring an additional 6,000 shares during the period. SG Americas Securities LLC increased its stake in shares of Lexicon Pharmaceuticals by 107.6% during the third quarter. SG Americas Securities LLC now owns 46,090 shares of the biopharmaceutical company’s stock valued at $72,000 after purchasing an additional 23,893 shares in the last quarter. Nantahala Capital Management LLC purchased a new position in shares of Lexicon Pharmaceuticals during the second quarter valued at approximately $3,871,000. Point72 Asset Management L.P. boosted its position in shares of Lexicon Pharmaceuticals by 605.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 4,121,191 shares of the biopharmaceutical company’s stock worth $6,924,000 after purchasing an additional 3,536,805 shares in the last quarter. Finally, CVI Holdings LLC purchased a new stake in shares of Lexicon Pharmaceuticals in the 2nd quarter worth approximately $34,000. 74.70% of the stock is owned by hedge funds and other institutional investors.

Lexicon Pharmaceuticals Price Performance

Shares of LXRX opened at $1.80 on Friday. The firm has a fifty day simple moving average of $1.72 and a two-hundred day simple moving average of $1.77. The firm has a market cap of $443.23 million, a PE ratio of -2.31 and a beta of 1.28. The company has a current ratio of 11.51, a quick ratio of 11.49 and a debt-to-equity ratio of 0.41. Lexicon Pharmaceuticals, Inc. has a 1-year low of $0.92 and a 1-year high of $3.73.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.01. Lexicon Pharmaceuticals had a negative return on equity of 105.38% and a negative net margin of 5,509.34%. The business had revenue of $1.65 million for the quarter, compared to analysts’ expectations of $2.74 million. During the same period last year, the firm posted ($0.22) earnings per share. On average, equities analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.69 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on LXRX shares. HC Wainwright reissued a “buy” rating and issued a $10.00 target price on shares of Lexicon Pharmaceuticals in a report on Wednesday. StockNews.com raised shares of Lexicon Pharmaceuticals to a “sell” rating in a research report on Tuesday, July 9th. Finally, Leerink Partners set a $6.00 price objective on shares of Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.00.

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.