Pinnacle Associates Ltd. Trims Holdings in Lexicon Pharmaceuticals, Inc. (LXRX)
Pinnacle Associates Ltd. trimmed its position in shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) by 14.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 674,825 shares of the biopharmaceutical company’s stock after selling 115,860 shares during the period. Pinnacle Associates Ltd. owned 0.64% of Lexicon Pharmaceuticals worth $8,098,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of LXRX. Two Sigma Advisers LP bought a new position in shares of Lexicon Pharmaceuticals in the fourth quarter worth $104,000. Quantitative Systematic Strategies LLC boosted its stake in Lexicon Pharmaceuticals by 61.4% during the first quarter. Quantitative Systematic Strategies LLC now owns 19,171 shares of the biopharmaceutical company’s stock valued at $164,000 after buying an additional 7,296 shares during the period. Aperio Group LLC boosted its stake in Lexicon Pharmaceuticals by 49.5% during the first quarter. Aperio Group LLC now owns 19,270 shares of the biopharmaceutical company’s stock valued at $165,000 after buying an additional 6,377 shares during the period. Trexquant Investment LP bought a new stake in Lexicon Pharmaceuticals during the first quarter valued at $177,000. Finally, MetLife Investment Advisors LLC bought a new stake in Lexicon Pharmaceuticals during the fourth quarter valued at $236,000.
In other Lexicon Pharmaceuticals news, VP James F. Tessmer sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 8th. The stock was sold at an average price of $12.91, for a total transaction of $129,100.00. Following the sale, the vice president now owns 35,643 shares in the company, valued at $460,151.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Public Equities L.P. Invus purchased 138,700 shares of the stock in a transaction on Friday, May 25th. The shares were purchased at an average price of $9.62 per share, for a total transaction of $1,334,294.00. The disclosure for this purchase can be found here. Insiders have acquired 1,924,615 shares of company stock worth $22,552,542 in the last 90 days. Company insiders own 6.10% of the company’s stock.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings data on Monday, July 30th. The biopharmaceutical company reported ($0.33) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.02. Lexicon Pharmaceuticals had a negative return on equity of 369.13% and a negative net margin of 137.32%. The company had revenue of $13.75 million during the quarter, compared to analyst estimates of $15.88 million. During the same quarter last year, the company earned ($0.33) earnings per share. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. equities research analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -1.38 EPS for the current year.
Several equities research analysts recently issued reports on the company. BidaskClub lowered Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Zacks Investment Research lowered Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, April 26th. Stifel Nicolaus reissued a “buy” rating and set a $23.00 price objective (down previously from $24.00) on shares of Lexicon Pharmaceuticals in a research note on Tuesday, July 31st. Citigroup dropped their price objective on Lexicon Pharmaceuticals from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, May 4th. Finally, ValuEngine raised Lexicon Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, June 1st. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $24.60.
Lexicon Pharmaceuticals Company Profile
Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of pharmaceutical products for the treatment of human diseases. 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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