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

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) saw a large decline in short interest in March. As of March 15th, there was short interest totalling 39,260,000 shares, a decline of 17.3% from the February 28th total of 47,460,000 shares. Currently, 17.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 6,260,000 shares, the days-to-cover ratio is currently 6.3 days.

Lexicon Pharmaceuticals Stock Performance

LXRX stock traded up $0.04 during midday trading on Wednesday, hitting $0.50. The company’s stock had a trading volume of 16,822,367 shares, compared to its average volume of 6,066,758. The company has a quick ratio of 7.43, a current ratio of 7.45 and a debt-to-equity ratio of 0.56. The stock has a market cap of $123.88 million, a price-to-earnings ratio of -0.67 and a beta of 1.04. Lexicon Pharmaceuticals has a 1 year low of $0.28 and a 1 year high of $2.45. The stock’s 50-day moving average price is $0.59 and its 200 day moving average price is $0.97.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. The firm had revenue of $26.55 million for the quarter, compared to the consensus estimate of $6.48 million. On average, equities analysts forecast that Lexicon Pharmaceuticals will post -0.66 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on LXRX shares. HC Wainwright restated a “buy” rating and issued a $4.00 price target on shares of Lexicon Pharmaceuticals in a research report on Friday, March 28th. Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Monday, March 3rd. StockNews.com started coverage on shares of Lexicon Pharmaceuticals in a report on Friday, March 28th. They set a “sell” rating for the company. Leerink Partners restated a “market perform” rating and issued a $1.00 price objective (down previously from $2.00) on shares of Lexicon Pharmaceuticals in a research report on Tuesday, March 4th. Finally, Piper Sandler cut their target price on Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating on the stock in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lexicon Pharmaceuticals has an average rating of “Hold” and a consensus target price of $3.67.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Bayesian Capital Management LP bought a new stake in shares of Lexicon Pharmaceuticals during the fourth quarter valued at approximately $31,000. RPO LLC purchased a new position in Lexicon Pharmaceuticals during the fourth quarter valued at approximately $33,000. Renaissance Technologies LLC purchased a new stake in shares of Lexicon Pharmaceuticals during the 4th quarter valued at $38,000. Arizona State Retirement System increased its position in shares of Lexicon Pharmaceuticals by 34.4% in the 4th quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company’s stock valued at $47,000 after acquiring an additional 16,136 shares during the period. Finally, Teacher Retirement System of Texas grew its position in Lexicon Pharmaceuticals by 60.3% during the 4th quarter. Teacher Retirement System of Texas now owns 65,415 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 24,615 shares during the period. 74.70% of the stock is owned by hedge funds and other institutional investors.

Lexicon Pharmaceuticals Company Profile

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