Braidwell LP Sells 7,493,366 Shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)

Braidwell LP cut its holdings in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) by 90.3% in the third quarter, Holdings Channel.com reports. The fund owned 801,584 shares of the biopharmaceutical company’s stock after selling 7,493,366 shares during the quarter. Braidwell LP’s holdings in Lexicon Pharmaceuticals were worth $1,258,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in LXRX. CVI Holdings LLC bought a new position in shares of Lexicon Pharmaceuticals during the 2nd quarter valued at $34,000. Principal Financial Group Inc. increased its position in Lexicon Pharmaceuticals by 116.1% during the second quarter. Principal Financial Group Inc. now owns 22,759 shares of the biopharmaceutical company’s stock worth $38,000 after buying an additional 12,225 shares during the last quarter. Great Point Partners LLC bought a new position in Lexicon Pharmaceuticals during the second quarter valued at about $50,000. BNP Paribas Financial Markets lifted its position in shares of Lexicon Pharmaceuticals by 71.2% in the third quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company’s stock worth $50,000 after buying an additional 13,246 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Lexicon Pharmaceuticals by 107.6% in the third quarter. SG Americas Securities LLC now owns 46,090 shares of the biopharmaceutical company’s stock worth $72,000 after buying an additional 23,893 shares during the last quarter. 74.70% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on LXRX. Leerink Partners set a $6.00 price objective on Lexicon Pharmaceuticals and gave the company an “outperform” rating in a research note on Friday, October 18th. HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of Lexicon Pharmaceuticals in a report on Wednesday, November 13th. Finally, Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Friday, November 22nd. One equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.00.

Lexicon Pharmaceuticals Stock Down 1.9 %

Lexicon Pharmaceuticals stock opened at $0.80 on Friday. Lexicon Pharmaceuticals, Inc. has a 52 week low of $0.73 and a 52 week high of $3.73. 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 business’s 50-day simple moving average is $1.46 and its 200-day simple moving average is $1.68.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings results on Tuesday, November 12th. The biopharmaceutical company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01). Lexicon Pharmaceuticals had a negative return on equity of 107.38% and a negative net margin of 4,109.41%. The business had revenue of $1.75 million during the quarter, compared to the consensus estimate of $3.14 million. During the same period in the prior year, the firm earned ($0.21) earnings per share. As a group, analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.66 earnings per share for the current fiscal year.

About Lexicon Pharmaceuticals

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.