Wedbush Securities Inc. raised its position in shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) by 65.2% during the second quarter, Holdings Channel reports. The institutional investor owned 87,640 shares of the biopharmaceutical company’s stock after buying an additional 34,586 shares during the period. Wedbush Securities Inc.’s holdings in Lexicon Pharmaceuticals were worth $1,442,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Trexquant Investment LP acquired a new position in shares of Lexicon Pharmaceuticals during the first quarter worth about $323,000. Virginia Retirement Systems ET AL increased its position in Lexicon Pharmaceuticals by 120.5% in the first quarter. Virginia Retirement Systems ET AL now owns 88,200 shares of the biopharmaceutical company’s stock worth $1,265,000 after buying an additional 48,200 shares during the period. Pictet Asset Management Ltd. increased its position in Lexicon Pharmaceuticals by 12.4% in the first quarter. Pictet Asset Management Ltd. now owns 61,550 shares of the biopharmaceutical company’s stock worth $883,000 after buying an additional 6,800 shares during the period. Bank of New York Mellon Corp increased its position in Lexicon Pharmaceuticals by 7.3% in the first quarter. Bank of New York Mellon Corp now owns 280,253 shares of the biopharmaceutical company’s stock worth $4,018,000 after buying an additional 19,176 shares during the period. Finally, 361 Capital LLC purchased a new position in Lexicon Pharmaceuticals during the first quarter worth $186,000.

Shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) opened at 14.62 on Friday. The firm’s 50-day moving average price is $16.17 and its 200-day moving average price is $15.41. Lexicon Pharmaceuticals, Inc. has a one year low of $13.41 and a one year high of $19.62. The company’s market capitalization is $1.54 billion.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Tuesday, August 1st. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.45) by $0.12. Lexicon Pharmaceuticals had a negative net margin of 170.63% and a negative return on equity of 94.87%. The firm had revenue of $12 million during the quarter, compared to analyst estimates of $18.34 million. During the same period last year, the business earned ($0.37) earnings per share. The business’s revenue was down 40.3% on a year-over-year basis. Analysts anticipate that Lexicon Pharmaceuticals, Inc. will post ($1.45) earnings per share for the current year.

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A number of research firms recently weighed in on LXRX. BidaskClub downgraded Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, June 29th. HC Wainwright set a $27.00 price target on Lexicon Pharmaceuticals and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. ValuEngine raised Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Cowen and Company reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Tuesday, August 1st. Finally, Zacks Investment Research downgraded Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.00.

About Lexicon Pharmaceuticals

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of breakthrough treatments for human disease. Its drug programs include XERMELO (telotristat ethyl), sotagliflozin, LX2761 and LX9211. It also has a number of additional compounds into various stages of clinical and preclinical development.

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

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