Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Short Interest Update

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) was the target of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 39,260,000 shares, a decline of 17.3% from the February 28th total of 47,460,000 shares. Based on an average daily trading volume, of 6,260,000 shares, the days-to-cover ratio is currently 6.3 days. Currently, 17.1% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LXRX shares. Leerink Partners restated a “market perform” rating and issued a $1.00 target price (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a report on Tuesday, March 4th. Piper Sandler dropped their price target on Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. HC Wainwright reiterated a “buy” rating and set a $4.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Friday. StockNews.com initiated coverage on shares of Lexicon Pharmaceuticals in a research report on Friday. They set a “sell” rating for the company. Finally, Leerink Partnrs downgraded shares of Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.67.

Institutional Trading of Lexicon Pharmaceuticals

Large investors have recently made changes to their positions in the business. Bayesian Capital Management LP acquired a new position in Lexicon Pharmaceuticals in the 4th quarter worth about $31,000. RPO LLC purchased a new position in shares of Lexicon Pharmaceuticals in the fourth quarter worth about $33,000. Renaissance Technologies LLC acquired a new position in Lexicon Pharmaceuticals during the fourth quarter worth about $38,000. Arizona State Retirement System raised its holdings in Lexicon Pharmaceuticals by 34.4% in the 4th quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 16,136 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Lexicon Pharmaceuticals by 60.3% in the fourth quarter. Teacher Retirement System of Texas now owns 65,415 shares of the biopharmaceutical company’s stock valued at $48,000 after purchasing an additional 24,615 shares during the last quarter. 74.70% of the stock is owned by hedge funds and other institutional investors.

Lexicon Pharmaceuticals Trading Up 0.7 %

LXRX traded up $0.00 during trading on Tuesday, reaching $0.46. The company had a trading volume of 27,250,016 shares, compared to its average volume of 5,990,117. The company has a quick ratio of 7.43, a current ratio of 7.45 and a debt-to-equity ratio of 0.56. The business has a 50 day simple moving average of $0.60 and a 200-day simple moving average of $0.98. The stock has a market cap of $114.28 million, a P/E ratio of -0.62 and a beta of 1.04. Lexicon Pharmaceuticals has a 52 week low of $0.28 and a 52 week high of $2.45.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The business had revenue of $26.55 million for the quarter, compared to the consensus estimate of $6.48 million. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. On average, equities analysts anticipate that Lexicon Pharmaceuticals will post -0.66 EPS 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.