Wedbush Securities Inc. Raises Stock Position in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)

Wedbush Securities Inc. boosted its position in shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) by 33.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,339 shares of the biopharmaceutical company’s stock after purchasing an additional 48,182 shares during the period. Wedbush Securities Inc.’s holdings in Lexicon Pharmaceuticals were worth $1,222,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Clearbridge Investments LLC increased its position in shares of Lexicon Pharmaceuticals by 3.4% during the first quarter. Clearbridge Investments LLC now owns 1,292,130 shares of the biopharmaceutical company’s stock valued at $7,184,000 after acquiring an additional 42,540 shares during the last quarter. Pictet Asset Management Ltd. increased its position in shares of Lexicon Pharmaceuticals by 42.6% during the first quarter. Pictet Asset Management Ltd. now owns 586,850 shares of the biopharmaceutical company’s stock valued at $3,263,000 after acquiring an additional 175,400 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Lexicon Pharmaceuticals by 2.5% during the fourth quarter. Geode Capital Management LLC now owns 565,085 shares of the biopharmaceutical company’s stock valued at $3,752,000 after acquiring an additional 13,664 shares during the last quarter. Pinnacle Associates Ltd. increased its position in shares of Lexicon Pharmaceuticals by 1.8% during the first quarter. Pinnacle Associates Ltd. now owns 550,549 shares of the biopharmaceutical company’s stock valued at $3,061,000 after acquiring an additional 9,615 shares during the last quarter. Finally, Fosun International Ltd increased its position in shares of Lexicon Pharmaceuticals by 79.9% during the first quarter. Fosun International Ltd now owns 181,000 shares of the biopharmaceutical company’s stock valued at $952,000 after acquiring an additional 80,379 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors.

Shares of LXRX stock traded down $0.02 during trading on Wednesday, reaching $1.45. The company’s stock had a trading volume of 291,327 shares, compared to its average volume of 975,676. The firm has a market cap of $158.34 million, a P/E ratio of -1.27 and a beta of 0.77. The company has a 50-day simple moving average of $4.47. Lexicon Pharmaceuticals, Inc. has a 1-year low of $1.13 and a 1-year high of $11.88.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings data on Wednesday, July 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.13). The company had revenue of $9.68 million for the quarter, compared to analysts’ expectations of $28.52 million. The business’s quarterly revenue was down 29.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.33) EPS. As a group, research analysts predict that Lexicon Pharmaceuticals, Inc. will post -0.8 EPS for the current fiscal year.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. Citigroup dropped their price target on shares of Lexicon Pharmaceuticals from $15.00 to $3.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. ValuEngine upgraded shares of Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Wedbush restated an “outperform” rating and issued a $17.00 price objective (down previously from $35.00) on shares of Lexicon Pharmaceuticals in a report on Thursday, August 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Lexicon Pharmaceuticals has a consensus rating of “Hold” and an average price target of $7.63.

In other Lexicon Pharmaceuticals news, Director Sam L. Barker acquired 24,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average price of $1.18 per share, for a total transaction of $28,320.00. Following the completion of the acquisition, the director now owns 40,187 shares of the company’s stock, valued at approximately $47,420.66. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.40% of the company’s stock.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of pharmaceutical products. The company offers XERMELO, an orally-delivered small molecule drug candidate for the treatment of carcinoid syndrome diarrhea in combination with somatostatin analog therapy in adults.

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Institutional Ownership by Quarter for Lexicon Pharmaceuticals (NASDAQ:LXRX)

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