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

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.

TRADEMARK VIOLATION WARNING: “Lexicon Pharmaceuticals, Inc. (LXRX) Sees Significant Decrease in Short Interest” was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this news story on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The legal version of this news story can be accessed at https://www.dispatchtribunal.com/2017/11/12/lexicon-pharmaceuticals-inc-lxrx-sees-significant-decrease-in-short-interest.html.

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.

Receive News & Ratings for Lexicon Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lexicon Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply