The Manufacturers Life Insurance Company Increases Holdings in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)

The Manufacturers Life Insurance Company boosted its position in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) by 40.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,957 shares of the biopharmaceutical company’s stock after buying an additional 14,411 shares during the period. The Manufacturers Life Insurance Company’s holdings in Lexicon Pharmaceuticals were worth $84,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of LXRX. Vanguard Group Inc. grew its position in Lexicon Pharmaceuticals by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company’s stock worth $15,363,000 after purchasing an additional 420,854 shares during the period. Marshall Wace LLP grew its holdings in Lexicon Pharmaceuticals by 138.5% during the second quarter. Marshall Wace LLP now owns 1,190,448 shares of the biopharmaceutical company’s stock worth $2,000,000 after acquiring an additional 691,276 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new position in Lexicon Pharmaceuticals during the second quarter valued at approximately $912,000. Bank of New York Mellon Corp raised its position in Lexicon Pharmaceuticals by 37.6% during the second quarter. Bank of New York Mellon Corp now owns 401,908 shares of the biopharmaceutical company’s stock valued at $675,000 after acquiring an additional 109,902 shares in the last quarter. Finally, BBR Partners LLC lifted its holdings in Lexicon Pharmaceuticals by 800.0% in the second quarter. BBR Partners LLC now owns 270,000 shares of the biopharmaceutical company’s stock valued at $454,000 after acquiring an additional 240,000 shares during the period. Hedge funds and other institutional investors own 74.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Leerink Partners set a $6.00 price objective on shares of Lexicon Pharmaceuticals and gave the stock an “outperform” rating in a research note on Friday. StockNews.com upgraded shares of Lexicon Pharmaceuticals to a “sell” rating in a research report on Tuesday, July 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $8.00.

Lexicon Pharmaceuticals Trading Up 3.5 %

Shares of LXRX stock opened at $2.08 on Monday. Lexicon Pharmaceuticals, Inc. has a fifty-two week low of $0.92 and a fifty-two week high of $3.73. The firm has a market capitalization of $512.17 million, a P/E ratio of -2.51 and a beta of 1.28. The stock’s fifty day moving average is $1.69 and its two-hundred day moving average is $1.77. The company has a debt-to-equity ratio of 0.41, a quick ratio of 11.49 and a current ratio of 11.51.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. The business had revenue of $1.65 million for the quarter, compared to analyst estimates of $2.74 million. Lexicon Pharmaceuticals had a negative net margin of 5,509.34% and a negative return on equity of 105.38%. During the same period last year, the company posted ($0.22) EPS. Research analysts expect that Lexicon Pharmaceuticals, Inc. will post -0.69 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.