Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 13,435,509 shares, a decrease of 13.8% from the October 13th total of 15,586,182 shares. Based on an average daily trading volume, of 742,164 shares, the short-interest ratio is presently 18.1 days. Currently, 13.1% of the company’s stock are sold short.
Several research analysts recently issued reports on the company. BidaskClub lowered Lexicon Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Wedbush reaffirmed an “ourperform” rating and set a $39.00 target price on shares of Lexicon Pharmaceuticals in a research report on Monday, August 7th. Cowen and Company reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Tuesday, August 1st. Zacks Investment Research lowered Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $21.00 price objective on shares of Lexicon Pharmaceuticals in a report on Sunday, September 17th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $28.75.
Lexicon Pharmaceuticals (LXRX) opened at $9.81 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.85 and a current ratio of 1.66. Lexicon Pharmaceuticals has a 1-year low of $8.07 and a 1-year high of $18.00.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.07. The business had revenue of $26.94 million for the quarter, compared to analyst estimates of $27.97 million. Lexicon Pharmaceuticals had a negative return on equity of 111.68% and a negative net margin of 165.69%. The company’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.35) earnings per share. research analysts predict that Lexicon Pharmaceuticals will post -1.45 EPS for the current year.
In other Lexicon Pharmaceuticals news, insider Lonnel Coats bought 30,000 shares of Lexicon Pharmaceuticals stock in a transaction that occurred on Friday, September 15th. The shares were bought at an average cost of $12.54 per share, with a total value of $376,200.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.77% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. State of Wisconsin Investment Board acquired a new position in shares of Lexicon Pharmaceuticals in the second quarter valued at about $510,000. Goldman Sachs Group Inc. boosted its stake in shares of Lexicon Pharmaceuticals by 17.9% in the second quarter. Goldman Sachs Group Inc. now owns 134,043 shares of the biopharmaceutical company’s stock worth $2,205,000 after buying an additional 20,379 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Lexicon Pharmaceuticals in the third quarter worth about $9,420,000. Pictet Asset Management Ltd. boosted its stake in shares of Lexicon Pharmaceuticals by 10.4% in the second quarter. Pictet Asset Management Ltd. now owns 67,950 shares of the biopharmaceutical company’s stock worth $941,000 after buying an additional 6,400 shares during the last quarter. Finally, First Mercantile Trust Co. boosted its stake in shares of Lexicon Pharmaceuticals by 11.2% in the second quarter. First Mercantile Trust Co. now owns 12,212 shares of the biopharmaceutical company’s stock worth $201,000 after buying an additional 1,227 shares during the last quarter.
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Lexicon Pharmaceuticals Company Profile
Lexicon Pharmaceuticals, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of breakthrough treatments for human disease. Its drug programs include XERMELO (telotristat ethyl), sotagliflozin, LX2761 and LX9211. It also has a number of additional compounds into various stages of clinical and preclinical development.
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