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

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) saw a significant increase in short interest in July. As of July 15th, there was short interest totalling 11,370,000 shares, an increase of 9.3% from the June 30th total of 10,400,000 shares. Based on an average daily volume of 1,380,000 shares, the days-to-cover ratio is presently 8.2 days. Currently, 11.0% of the company’s stock are sold short.

A number of research firms have commented on LXRX. Zacks Investment Research upgraded Lexicon Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.00 price target for the company in a research note on Saturday, June 20th. Wedbush reiterated a “buy” rating and set a $3.00 price target on shares of Lexicon Pharmaceuticals in a research report on Monday. ValuEngine upgraded Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday. Citigroup dropped their price objective on Lexicon Pharmaceuticals from $2.30 to $2.10 and set a “neutral” rating on the stock in a report on Tuesday, April 28th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Monday, April 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $2.53.

Shares of NASDAQ LXRX traded up $0.04 during trading hours on Tuesday, reaching $1.94. The stock had a trading volume of 65,249 shares, compared to its average volume of 3,328,413. The firm has a market cap of $207.79 million, a price-to-earnings ratio of 10.05 and a beta of 1.12. The company has a current ratio of 2.52, a quick ratio of 2.48 and a debt-to-equity ratio of 4.28. Lexicon Pharmaceuticals has a fifty-two week low of $1.22 and a fifty-two week high of $5.33. The firm has a 50-day moving average of $1.94 and a 200-day moving average of $2.28.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported ($0.63) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.61) by ($0.02). The company had revenue of $9.16 million for the quarter, compared to analysts’ expectations of $8.70 million. Lexicon Pharmaceuticals had a net margin of 12.26% and a return on equity of 50.16%. On average, equities analysts predict that Lexicon Pharmaceuticals will post -2.11 EPS for the current year.

Several hedge funds have recently modified their holdings of LXRX. Tudor Investment Corp Et Al acquired a new stake in shares of Lexicon Pharmaceuticals in the 1st quarter worth approximately $69,000. Geode Capital Management LLC grew its holdings in Lexicon Pharmaceuticals by 2.4% during the 1st quarter. Geode Capital Management LLC now owns 686,302 shares of the biopharmaceutical company’s stock valued at $1,338,000 after buying an additional 16,165 shares during the last quarter. Virginia Retirement Systems ET AL grew its holdings in Lexicon Pharmaceuticals by 229.4% during the 1st quarter. Virginia Retirement Systems ET AL now owns 109,700 shares of the biopharmaceutical company’s stock valued at $214,000 after buying an additional 76,400 shares during the last quarter. Strs Ohio grew its holdings in Lexicon Pharmaceuticals by 26.3% during the 1st quarter. Strs Ohio now owns 162,800 shares of the biopharmaceutical company’s stock valued at $317,000 after buying an additional 33,900 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Lexicon Pharmaceuticals by 329.0% during the 4th quarter. Bank of New York Mellon Corp now owns 794,876 shares of the biopharmaceutical company’s stock valued at $3,299,000 after buying an additional 609,611 shares during the last quarter. 98.08% of the stock is owned by institutional investors and hedge funds.

About Lexicon Pharmaceuticals

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of pharmaceutical products. The company offers XERMELO, an orally-delivered small molecule drug candidate for the treatment of carcinoid syndrome diarrhea in combination with somatostatin analog therapy in adults.

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