Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Sees Significant Decrease in Short Interest

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) was the target of a large decline in short interest in 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 trading volume of 6,260,000 shares, the short-interest ratio is currently 6.3 days. Currently, 17.1% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

Several equities analysts have commented on LXRX shares. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. StockNews.com started coverage on shares of Lexicon Pharmaceuticals in a report on Friday, March 28th. They issued a “sell” rating on the stock. Leerink Partnrs cut shares of Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. HC Wainwright reiterated a “buy” rating and set a $4.00 target price on shares of Lexicon Pharmaceuticals in a report on Friday, March 28th. Finally, Leerink Partners restated a “market perform” rating and issued a $1.00 price target (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, Lexicon Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $3.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LXRX. California State Teachers Retirement System grew its position in shares of Lexicon Pharmaceuticals by 29.9% during the 4th quarter. California State Teachers Retirement System now owns 195,215 shares of the biopharmaceutical company’s stock worth $144,000 after buying an additional 44,915 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Lexicon Pharmaceuticals by 193.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 353,508 shares of the biopharmaceutical company’s stock worth $261,000 after buying an additional 233,121 shares in the last quarter. Tang Capital Management LLC boosted its stake in shares of Lexicon Pharmaceuticals by 750.3% during the 4th quarter. Tang Capital Management LLC now owns 850,268 shares of the biopharmaceutical company’s stock worth $628,000 after buying an additional 750,268 shares during the last quarter. Point72 Asset Management L.P. grew its stake in Lexicon Pharmaceuticals by 630.7% in the fourth quarter. Point72 Asset Management L.P. now owns 8,988,421 shares of the biopharmaceutical company’s stock valued at $6,638,000 after purchasing an additional 7,758,371 shares in the last quarter. Finally, Deutsche Bank AG increased its position in Lexicon Pharmaceuticals by 378.0% during the fourth quarter. Deutsche Bank AG now owns 315,659 shares of the biopharmaceutical company’s stock worth $234,000 after buying an additional 249,616 shares during the last quarter. Institutional investors and hedge funds own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Stock Up 8.4 %

NASDAQ LXRX traded up $0.04 during trading on Wednesday, hitting $0.50. 16,822,367 shares of the company traded hands, compared to its average volume of 6,066,758. The company has a current ratio of 7.45, a quick ratio of 7.43 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $123.88 million, a P/E ratio of -0.67 and a beta of 1.04. The business has a fifty day simple moving average of $0.59 and a 200 day simple moving average of $0.97. Lexicon Pharmaceuticals has a 12 month low of $0.28 and a 12 month high of $2.45.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings data on Thursday, March 6th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. Lexicon Pharmaceuticals had a negative return on equity of 107.38% and a negative net margin of 4,109.41%. The company had revenue of $26.55 million during the quarter, compared to the consensus estimate of $6.48 million. As a group, sell-side analysts predict that Lexicon Pharmaceuticals will post -0.66 EPS for the current 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.