Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Sees Significant Decline in Short Interest

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) was the target of a large decline in short interest in June. As of June 15th, there was short interest totalling 21,570,000 shares, a decline of 14.2% from the May 31st total of 25,140,000 shares. Based on an average daily trading volume, of 2,810,000 shares, the days-to-cover ratio is currently 7.7 days.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of Lexicon Pharmaceuticals during the first quarter worth $105,000. Boulder Hill Capital Management LP bought a new stake in shares of Lexicon Pharmaceuticals during the first quarter worth $615,000. Vanguard Group Inc. raised its position in shares of Lexicon Pharmaceuticals by 7.0% during the first quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company’s stock worth $15,363,000 after acquiring an additional 420,854 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Lexicon Pharmaceuticals by 82.6% in the first quarter. BNP Paribas Financial Markets now owns 59,378 shares of the biopharmaceutical company’s stock valued at $143,000 after purchasing an additional 26,859 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in Lexicon Pharmaceuticals by 65.7% in the first quarter. China Universal Asset Management Co. Ltd. now owns 46,930 shares of the biopharmaceutical company’s stock valued at $113,000 after purchasing an additional 18,601 shares during the last quarter. Institutional investors own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Stock Performance

LXRX stock opened at $1.68 on Friday. Lexicon Pharmaceuticals has a twelve month low of $0.92 and a twelve month high of $3.73. The company has a debt-to-equity ratio of 0.35, a quick ratio of 15.56 and a current ratio of 15.58. The business has a fifty day moving average of $1.74 and a 200-day moving average of $1.91.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.02). The firm had revenue of $1.13 million for the quarter, compared to the consensus estimate of $1.17 million. Lexicon Pharmaceuticals had a negative return on equity of 108.54% and a negative net margin of 8,311.12%. As a group, equities research analysts predict that Lexicon Pharmaceuticals will post -0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LXRX shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a research note on Friday, May 3rd. SVB Leerink initiated coverage on Lexicon Pharmaceuticals in a research report on Tuesday, April 30th. They issued an “outperform” rating and a $5.00 price objective for the company. HC Wainwright reiterated a “buy” rating and issued a $10.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Monday, June 24th. Leerink Partnrs reiterated an “outperform” rating on shares of Lexicon Pharmaceuticals in a research report on Tuesday, April 30th. Finally, StockNews.com upgraded Lexicon Pharmaceuticals to a “sell” rating in a research report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $6.67.

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.