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

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) saw a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 7,668,900 shares, a decrease of 17.4% from the June 30th total of 9,285,500 shares. Based on an average daily trading volume, of 1,080,000 shares, the days-to-cover ratio is currently 7.1 days. Approximately 7.5% of the shares of the company are short sold.

LXRX traded down $0.01 during trading on Tuesday, hitting $1.46. 1,226,200 shares of the company traded hands, compared to its average volume of 975,676. The firm has a market capitalization of $158.34 million, a price-to-earnings ratio of -1.28 and a beta of 0.77. The firm’s fifty day moving average price is $4.47. Lexicon Pharmaceuticals has a one year low of $1.13 and a one year high of $11.88.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its earnings results on Wednesday, July 31st. The biopharmaceutical company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.13). The business had revenue of $9.68 million for the quarter, compared to analysts’ expectations of $28.52 million. The firm’s revenue for the quarter was down 29.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.33) EPS. On average, sell-side analysts forecast that Lexicon Pharmaceuticals will post -0.8 EPS for the current year.

Several research firms recently weighed in on LXRX. Stifel Nicolaus lowered shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating and reduced their price target for the company from $10.00 to $4.00 in a research report on Monday, July 29th. ValuEngine upgraded shares of Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Needham & Company LLC restated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, May 2nd. BidaskClub lowered shares of Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Finally, Zacks Investment Research lowered shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $7.63.

In related news, Director Sam L. Barker purchased 24,000 shares of Lexicon Pharmaceuticals stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $1.18 per share, for a total transaction of $28,320.00. Following the completion of the transaction, the director now owns 40,187 shares in the company, valued at $47,420.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.40% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Clearbridge Investments LLC boosted its position in Lexicon Pharmaceuticals by 3.4% during the first quarter. Clearbridge Investments LLC now owns 1,292,130 shares of the biopharmaceutical company’s stock worth $7,184,000 after purchasing an additional 42,540 shares during the period. Geode Capital Management LLC boosted its position in shares of Lexicon Pharmaceuticals by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 565,085 shares of the biopharmaceutical company’s stock valued at $3,752,000 after acquiring an additional 13,664 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of Lexicon Pharmaceuticals by 10.0% in the first quarter. Gamco Investors INC. ET AL now owns 22,000 shares of the biopharmaceutical company’s stock valued at $122,000 after acquiring an additional 2,000 shares during the period. Pinnacle Associates Ltd. boosted its position in shares of Lexicon Pharmaceuticals by 1.8% in the first quarter. Pinnacle Associates Ltd. now owns 550,549 shares of the biopharmaceutical company’s stock valued at $3,061,000 after acquiring an additional 9,615 shares during the period. Finally, Wealth & Pension Services Group Inc. bought a new position in shares of Lexicon Pharmaceuticals in the first quarter valued at approximately $60,000. Hedge funds and other institutional investors own 97.95% of the company’s stock.

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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