Short Interest in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Grows By 20.1%


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Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 4,480,000 shares, a growth of 20.1% from the March 31st total of 3,730,000 shares. Based on an average daily trading volume, of 1,550,000 shares, the days-to-cover ratio is presently 2.9 days.

Several research analysts recently weighed in on the company. Smith Barney Citigroup lifted their price target on Lexicon Pharmaceuticals from $6.00 to $13.00 in a research report on Thursday, January 14th. G.Research lowered Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, January 15th. Citigroup upped their target price on shares of Lexicon Pharmaceuticals from $6.00 to $13.00 in a research report on Friday, January 15th. JPMorgan Chase & Co. upgraded Lexicon Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $7.00 price objective on the stock in a report on Friday, January 29th. Finally, Zacks Investment Research cut shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, March 17th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Lexicon Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $9.13.

In other news, VP James F. Tessmer sold 22,912 shares of the firm’s stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $6.92, for a total transaction of $158,551.04. Following the transaction, the vice president now directly owns 71,766 shares of the company’s stock, valued at $496,620.72. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.40% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its holdings in Lexicon Pharmaceuticals by 3,480.6% in the first quarter. Nisa Investment Advisors LLC now owns 140,000 shares of the biopharmaceutical company’s stock valued at $822,000 after buying an additional 136,090 shares during the last quarter. Boothe Investment Group Inc. bought a new position in Lexicon Pharmaceuticals in the 1st quarter worth approximately $2,559,000. Dimensional Fund Advisors LP acquired a new position in shares of Lexicon Pharmaceuticals during the fourth quarter valued at $57,000. Principal Financial Group Inc. raised its position in shares of Lexicon Pharmaceuticals by 28.3% during the 4th quarter. Principal Financial Group Inc. now owns 168,636 shares of the biopharmaceutical company’s stock worth $577,000 after buying an additional 37,201 shares in the last quarter. Finally, Salem Investment Counselors Inc. bought a new position in Lexicon Pharmaceuticals during the fourth quarter valued at about $250,000. 84.62% of the stock is owned by institutional investors.

Shares of NASDAQ:LXRX traded down $0.21 during trading on Tuesday, reaching $4.63. The stock had a trading volume of 92,614 shares, compared to its average volume of 3,915,176. Lexicon Pharmaceuticals has a fifty-two week low of $1.03 and a fifty-two week high of $9.65. The business has a fifty day moving average price of $5.62 and a 200-day moving average price of $4.71. The company has a quick ratio of 1.55, a current ratio of 1.54 and a debt-to-equity ratio of 0.13. The stock has a market cap of $668.36 million, a P/E ratio of -4.31 and a beta of 2.09.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings data on Wednesday, March 10th. The biopharmaceutical company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.23. Lexicon Pharmaceuticals had a negative return on equity of 164.96% and a negative net margin of 320.44%. The company had revenue of $0.20 million for the quarter, compared to the consensus estimate of $0.17 million. As a group, equities analysts forecast that Lexicon Pharmaceuticals will post -1.11 EPS for the current year.

Lexicon Pharmaceuticals Company Profile

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; LX9211, which is in Phase II clinical development for the treatment of neuropathic pain; and LX2761.

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