Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX – Get Free Report) 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.
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.
View Our Latest Analysis on Lexicon Pharmaceuticals
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.
Further Reading
- Five stocks we like better than Lexicon Pharmaceuticals
- What Does Downgrade Mean in Investing?
- These Top 3 Banks Raise Dividends After Passing Fed Stress Test
- What is a Special Dividend?
- Hitch a Ride with Lyft Stock for Double-Digit Gains in 2nd Half
- What is a Dividend Harvesting Strategy and How Can Investors Profit from it?
- Eli Lilly Stock Up: GLP-1 Zepbound Targets Sleep Apnea Market
Receive News & Ratings for Lexicon Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lexicon Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.