State Board of Administration of Florida Retirement System boosted its stake in Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) by 15.5% during the second quarter, Holdings Channel reports. The fund owned 28,292 shares of the biopharmaceutical company’s stock after buying an additional 3,794 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Lexicon Pharmaceuticals were worth $406,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of LXRX. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Lexicon Pharmaceuticals during the second quarter worth approximately $195,000. Quantbot Technologies LP raised its position in shares of Lexicon Pharmaceuticals by 12.3% in the second quarter. Quantbot Technologies LP now owns 13,999 shares of the biopharmaceutical company’s stock worth $200,000 after buying an additional 1,529 shares in the last quarter. Acrospire Investment Management LLC bought a new position in shares of Lexicon Pharmaceuticals during the first quarter worth approximately $211,000. Old Mutual Global Investors UK Ltd. bought a new position in shares of Lexicon Pharmaceuticals during the second quarter worth approximately $257,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Lexicon Pharmaceuticals during the second quarter worth approximately $274,000.
Shares of Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) traded up 2.74% during mid-day trading on Monday, hitting $19.47. The company’s stock had a trading volume of 163,569 shares. Lexicon Pharmaceuticals Inc. has a 1-year low of $7.65 and a 1-year high of $19.62. The company has a 50-day moving average of $16.95 and a 200 day moving average of $14.81. The company’s market cap is $2.02 billion.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.04. The business had revenue of $20.10 million for the quarter, compared to the consensus estimate of $12.36 million. Lexicon Pharmaceuticals had a negative return on equity of 9.03% and a negative net margin of 13.42%. Lexicon Pharmaceuticals’s quarterly revenue was up 5186.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.27) earnings per share. On average, analysts expect that Lexicon Pharmaceuticals Inc. will post ($1.54) EPS for the current year.
Several analysts recently weighed in on LXRX shares. Needham & Company LLC restated a “buy” rating on shares of Lexicon Pharmaceuticals in a research note on Thursday, August 11th. Zacks Investment Research upgraded Lexicon Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Citigroup Inc. started coverage on Lexicon Pharmaceuticals in a research note on Tuesday, August 2nd. They set a “buy” rating and a $21.00 target price for the company. Stifel Nicolaus increased their target price on Lexicon Pharmaceuticals from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Finally, Wedbush restated an “outperform” rating and set a $33.00 target price on shares of Lexicon Pharmaceuticals in a research note on Tuesday, September 20th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Lexicon Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $23.86.
Lexicon Pharmaceuticals Company Profile
Lexicon Pharmaceuticals, Inc (Lexicon) is a biopharmaceutical company. The Company focuses on the development of treatments for human disease. The Company is engaged in the development of two drug candidates: telotristat etiprate (LX1032) and sotagliflozin (LX4211). The Company’s telotristat etiprate, is an orally delivered small molecule drug candidate, as a treatment for carcinoid syndrome.
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