Nantahala Capital Management LLC Takes $3.87 Million Position in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)

Nantahala Capital Management LLC bought a new position in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,304,150 shares of the biopharmaceutical company’s stock, valued at approximately $3,871,000. Nantahala Capital Management LLC owned approximately 0.94% of Lexicon Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Cantor Fitzgerald L. P. purchased a new stake in Lexicon Pharmaceuticals during the fourth quarter valued at approximately $25,000. CVI Holdings LLC purchased a new position in Lexicon Pharmaceuticals during the 2nd quarter worth approximately $34,000. Principal Financial Group Inc. lifted 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 valued at $38,000 after purchasing an additional 12,225 shares during the period. Great Point Partners LLC purchased a new stake in shares of Lexicon Pharmaceuticals in the second quarter worth about $50,000. Finally, Victory Capital Management Inc. grew its stake in shares of Lexicon Pharmaceuticals by 44.5% during the 2nd quarter. Victory Capital Management Inc. now owns 45,341 shares of the biopharmaceutical company’s stock worth $76,000 after purchasing an additional 13,972 shares during the period. 74.70% of the stock is owned by hedge funds and other institutional investors.

Lexicon Pharmaceuticals Stock Down 1.9 %

Shares of LXRX opened at $1.57 on Tuesday. Lexicon Pharmaceuticals, Inc. has a 12-month low of $0.92 and a 12-month high of $3.73. The firm has a market cap of $386.59 million, a P/E ratio of -1.89 and a beta of 1.33. The company’s 50-day moving average price is $1.75 and its 200 day moving average price is $1.83. The company has a current ratio of 11.51, a quick ratio of 11.49 and a debt-to-equity ratio of 0.41.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.01. Lexicon Pharmaceuticals had a negative net margin of 5,509.34% and a negative return on equity of 105.38%. The business had revenue of $1.65 million for the quarter, compared to analysts’ expectations of $2.74 million. During the same quarter in the prior year, the company earned ($0.22) earnings per share. On average, sell-side analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.69 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LXRX. StockNews.com upgraded Lexicon Pharmaceuticals to a “sell” rating in a research report on Tuesday, July 9th. HC Wainwright reissued a “buy” rating and set a $10.00 price objective on shares of Lexicon Pharmaceuticals in a research note on Friday. 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 company’s stock. According to MarketBeat.com, Lexicon Pharmaceuticals has an average rating of “Hold” and a consensus price target of $7.50.

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.