BNP Paribas Arbitrage SA Raises Stock Position in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)

BNP Paribas Arbitrage SA grew its stake in shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) by 940.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,934 shares of the biopharmaceutical company’s stock after buying an additional 8,979 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Lexicon Pharmaceuticals were worth $55,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Pegasus Asset Management Inc. bought a new stake in Lexicon Pharmaceuticals during the 4th quarter valued at approximately $66,000. Vanguard Group Inc. lifted its holdings in shares of Lexicon Pharmaceuticals by 1.9% during the third quarter. Vanguard Group Inc. now owns 3,834,766 shares of the biopharmaceutical company’s stock valued at $40,917,000 after purchasing an additional 72,640 shares during the last quarter. D.A. Davidson & CO. purchased a new position in shares of Lexicon Pharmaceuticals during the fourth quarter valued at approximately $87,000. Virtus ETF Advisers LLC lifted its holdings in shares of Lexicon Pharmaceuticals by 35.5% during the fourth quarter. Virtus ETF Advisers LLC now owns 82,295 shares of the biopharmaceutical company’s stock valued at $546,000 after purchasing an additional 21,567 shares during the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Lexicon Pharmaceuticals during the fourth quarter valued at approximately $73,000. 98.29% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on LXRX. BidaskClub lowered shares of Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research raised shares of Lexicon Pharmaceuticals from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research report on Tuesday, May 28th. ValuEngine downgraded shares of Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, March 25th. Wedbush reaffirmed an “outperform” rating and issued a $35.00 target price (up previously from $34.00) on shares of Lexicon Pharmaceuticals in a report on Monday, April 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $16.38.

LXRX traded up $0.37 during trading on Monday, hitting $6.66. The stock had a trading volume of 550,600 shares, compared to its average volume of 724,504. The stock has a market cap of $668.44 million, a P/E ratio of -5.86 and a beta of 0.84. Lexicon Pharmaceuticals, Inc. has a twelve month low of $4.25 and a twelve month high of $13.31. The business’s 50 day simple moving average is $5.91.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its earnings results on Wednesday, May 1st. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.21). The firm had revenue of $9.20 million during the quarter, compared to analyst estimates of $13.26 million. Lexicon Pharmaceuticals’s revenue was down 63.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.40) earnings per share. Research analysts predict that Lexicon Pharmaceuticals, Inc. will post -0.47 EPS for the current fiscal year.

Lexicon Pharmaceuticals Profile

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of pharmaceutical products. 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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