Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Short Interest Down 17.3% in March

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

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Lexicon Pharmaceuticals by 28.9% during the third quarter. FMR LLC now owns 49,867,042 shares of the biopharmaceutical company’s stock worth $78,291,000 after acquiring an additional 11,179,919 shares during the period. Point72 Asset Management L.P. grew its stake in shares of Lexicon Pharmaceuticals by 630.7% during the 4th quarter. Point72 Asset Management L.P. now owns 8,988,421 shares of the biopharmaceutical company’s stock worth $6,638,000 after purchasing an additional 7,758,371 shares during the period. Schonfeld Strategic Advisors LLC increased its holdings in shares of Lexicon Pharmaceuticals by 301.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 7,558,621 shares of the biopharmaceutical company’s stock valued at $5,582,000 after purchasing an additional 5,676,021 shares in the last quarter. Nantahala Capital Management LLC boosted its holdings in Lexicon Pharmaceuticals by 186.6% during the fourth quarter. Nantahala Capital Management LLC now owns 6,604,150 shares of the biopharmaceutical company’s stock worth $4,877,000 after buying an additional 4,300,000 shares in the last quarter. Finally, Tang Capital Management LLC lifted its position in shares of Lexicon Pharmaceuticals by 750.3% during the 4th quarter. Tang Capital Management LLC now owns 850,268 shares of the biopharmaceutical company’s stock valued at $628,000 after acquiring an additional 750,268 shares during the period. Institutional investors and hedge funds own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Stock Performance

Lexicon Pharmaceuticals stock traded down $0.02 during mid-day trading on Thursday, reaching $0.48. 4,596,002 shares of the company were exchanged, compared to its average volume of 6,062,508. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.43 and a current ratio of 7.45. The firm’s 50-day simple moving average is $0.59 and its two-hundred day simple moving average is $0.97. Lexicon Pharmaceuticals has a twelve month low of $0.28 and a twelve month high of $2.45. The firm has a market cap of $118.98 million, a PE ratio of -0.64 and a beta of 1.04.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings data on Thursday, March 6th. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. The company had revenue of $26.55 million during the quarter, compared to the consensus estimate of $6.48 million. Lexicon Pharmaceuticals had a negative net margin of 4,109.41% and a negative return on equity of 107.38%. Equities analysts predict that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Leerink Partnrs downgraded Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Leerink Partners reiterated a “market perform” rating and set a $1.00 price target (down from $2.00) on shares of Lexicon Pharmaceuticals in a research note on Tuesday, March 4th. Piper Sandler decreased their price objective on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an “overweight” rating for the company in a research note on Friday, March 7th. Needham & Company LLC reiterated a “hold” rating on shares of Lexicon Pharmaceuticals in a research report on Monday, March 3rd. Finally, StockNews.com started coverage on Lexicon Pharmaceuticals in a research note on Friday, March 28th. They set a “sell” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Lexicon Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $3.67.

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.