Short Interest in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Decreases By 14.2%

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) was the target of a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 21,570,000 shares, a decrease of 14.2% from the May 31st total of 25,140,000 shares. Based on an average daily volume of 2,810,000 shares, the days-to-cover ratio is presently 7.7 days.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several large investors have recently bought and sold shares of LXRX. Cantor Fitzgerald L. P. purchased a new stake in Lexicon Pharmaceuticals during the 4th quarter worth about $25,000. Principal Securities Inc. purchased a new stake in Lexicon Pharmaceuticals during the fourth quarter worth approximately $33,000. China Universal Asset Management Co. Ltd. boosted its holdings in Lexicon Pharmaceuticals by 350.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 28,329 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 22,043 shares in the last quarter. RPO LLC purchased a new position in Lexicon Pharmaceuticals in the fourth quarter valued at approximately $49,000. Finally, Victory Capital Management Inc. raised its holdings in Lexicon Pharmaceuticals by 22.0% during the fourth quarter. Victory Capital Management Inc. now owns 32,187 shares of the biopharmaceutical company’s stock worth $49,000 after purchasing an additional 5,813 shares in the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Stock Down 0.3 %

NASDAQ LXRX traded down $0.01 during trading hours on Monday, hitting $1.68. 1,615,812 shares of the company were exchanged, compared to its average volume of 3,739,999. The company has a quick ratio of 15.56, a current ratio of 15.58 and a debt-to-equity ratio of 0.35. The firm has a market cap of $412.45 million, a price-to-earnings ratio of -2.02 and a beta of 1.35. The company has a 50 day moving average of $1.74 and a two-hundred day moving average of $1.92. Lexicon Pharmaceuticals has a 52-week low of $0.92 and a 52-week high of $3.73.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). The firm had revenue of $1.13 million for the quarter, compared to analysts’ expectations of $1.17 million. Lexicon Pharmaceuticals had a negative return on equity of 108.54% and a negative net margin of 8,311.12%. Equities research analysts anticipate that Lexicon Pharmaceuticals will post -0.7 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on LXRX. HC Wainwright reaffirmed a “buy” rating and issued a $10.00 target price on shares of Lexicon Pharmaceuticals in a research report on Monday, June 24th. Needham & Company LLC reissued a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Friday, May 3rd. Leerink Partnrs restated an “outperform” rating on shares of Lexicon Pharmaceuticals in a research report on Tuesday, April 30th. StockNews.com upgraded Lexicon Pharmaceuticals to a “sell” rating in a report on Thursday, June 6th. Finally, SVB Leerink assumed coverage on Lexicon Pharmaceuticals in a report on Tuesday, April 30th. They set an “outperform” rating and a $5.00 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.67.

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.