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

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) was the recipient of a significant growth in short interest during 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 trading volume of 1,550,000 shares, the short-interest ratio is presently 2.9 days.

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. raised Lexicon Pharmaceuticals from an “underweight” rating to a “neutral” rating and set a $7.00 target price on the stock in a report on Friday, January 29th. Smith Barney Citigroup boosted their price target on Lexicon Pharmaceuticals from $6.00 to $13.00 in a report on Thursday, January 14th. Zacks Investment Research downgraded shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, March 17th. Citigroup increased their price target on Lexicon Pharmaceuticals from $6.00 to $13.00 in a research note on Friday, January 15th. Finally, Wedbush lowered shares of Lexicon Pharmaceuticals from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $2.00 to $8.00 in a report on Friday, January 29th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Lexicon Pharmaceuticals has an average rating of “Hold” and a consensus target price of $9.13.

Shares of Lexicon Pharmaceuticals stock traded down $0.21 on Tuesday, reaching $4.63. 92,614 shares of the company traded hands, compared to its average volume of 3,915,176. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.54 and a quick ratio of 1.55. The company has a 50 day moving average of $5.62 and a 200 day moving average of $4.71. Lexicon Pharmaceuticals has a 52 week low of $1.03 and a 52 week high of $9.65. The firm has a market capitalization of $668.36 million, a PE ratio of -4.31 and a beta of 2.09.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its earnings results on Wednesday, March 10th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.28) by $0.23. The business had revenue of $0.20 million during the quarter, compared to analyst estimates of $0.17 million. Lexicon Pharmaceuticals had a negative return on equity of 164.96% and a negative net margin of 320.44%. As a group, analysts anticipate that Lexicon Pharmaceuticals will post -1.11 earnings per share for the current year.

In related news, VP James F. Tessmer sold 22,912 shares of the business’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $6.92, for a total value of $158,551.04. Following the completion of the sale, the vice president now directly owns 71,766 shares in the company, valued at approximately $496,620.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Steel Peak Wealth Management LLC purchased a new position in shares of Lexicon Pharmaceuticals in the 4th quarter valued at approximately $34,000. Victory Capital Management Inc. purchased a new stake in Lexicon Pharmaceuticals during the fourth quarter valued at approximately $42,000. XTX Markets LLC purchased a new position in shares of Lexicon Pharmaceuticals during the 4th quarter valued at about $45,000. Aperio Group LLC purchased a new position in shares of Lexicon Pharmaceuticals during the 4th quarter valued at $50,000. Finally, Dimensional Fund Advisors LP bought a new stake in Lexicon Pharmaceuticals during the 4th quarter valued at approximately $57,000. 84.62% of the stock is owned by hedge funds and other institutional investors.

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

Further Reading: Limitations of the P/E Growth ratio

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