Wedbush Securities Inc. cut its stake in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) by 17.3% during the third quarter, HoldingsChannel.com reports. The fund owned 125,130 shares of the biopharmaceutical company’s stock after selling 26,220 shares during the quarter. Wedbush Securities Inc.’s holdings in Lexicon Pharmaceuticals were worth $1,335,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in LXRX. Schwab Charles Investment Management Inc. boosted its holdings in shares of Lexicon Pharmaceuticals by 6.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 241,061 shares of the biopharmaceutical company’s stock worth $2,893,000 after buying an additional 14,426 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Lexicon Pharmaceuticals by 4.6% during the 2nd quarter. BlackRock Inc. now owns 4,422,293 shares of the biopharmaceutical company’s stock worth $53,066,000 after buying an additional 195,461 shares in the last quarter. Tocqueville Asset Management L.P. bought a new position in shares of Lexicon Pharmaceuticals in the 2nd quarter worth $164,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Lexicon Pharmaceuticals in the 2nd quarter worth $205,000. Finally, Northern Trust Corp lifted its holdings in shares of Lexicon Pharmaceuticals by 2.1% in the 2nd quarter. Northern Trust Corp now owns 584,393 shares of the biopharmaceutical company’s stock worth $7,013,000 after purchasing an additional 12,289 shares in the last quarter.

LXRX has been the topic of a number of recent research reports. Citigroup cut their target price on Lexicon Pharmaceuticals from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Zacks Investment Research cut Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 7th. Gabelli reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Friday, November 2nd. Cowen reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Friday, November 2nd. Finally, BidaskClub upgraded Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $25.25.

Shares of LXRX opened at $7.39 on Thursday. Lexicon Pharmaceuticals, Inc. has a 12-month low of $7.04 and a 12-month high of $13.97. The company has a current ratio of 2.90, a quick ratio of 2.83 and a debt-to-equity ratio of 8.85. The firm has a market capitalization of $788.09 million, a P/E ratio of -5.82 and a beta of 0.75.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its earnings results on Thursday, November 1st. The biopharmaceutical company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.07. Lexicon Pharmaceuticals had a negative return on equity of 1,247.65% and a negative net margin of 168.23%. The company had revenue of $6.90 million for the quarter, compared to analysts’ expectations of $12.56 million. During the same period last year, the business earned ($0.29) EPS. Lexicon Pharmaceuticals’s quarterly revenue was down 74.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Lexicon Pharmaceuticals, Inc. will post -1.29 earnings per share for the current fiscal year.

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About Lexicon Pharmaceuticals

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

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