Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 39,260,000 shares, a drop of 17.3% from the February 28th total of 47,460,000 shares. Approximately 17.1% of the shares of the company are sold short. Based on an average daily trading volume, of 6,260,000 shares, the short-interest ratio is currently 6.3 days.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of LXRX. BNP Paribas Financial Markets lifted its holdings in Lexicon Pharmaceuticals by 71.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 31,853 shares of the biopharmaceutical company's stock valued at $50,000 after acquiring an additional 13,246 shares during the last quarter. Wellington Management Group LLP lifted its stake in Lexicon Pharmaceuticals by 2.1% during the fourth quarter. Wellington Management Group LLP now owns 747,996 shares of the biopharmaceutical company's stock valued at $552,000 after purchasing an additional 15,249 shares during the last quarter. Arizona State Retirement System boosted its holdings in Lexicon Pharmaceuticals by 34.4% during the fourth quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company's stock worth $47,000 after buying an additional 16,136 shares in the last quarter. Teacher Retirement System of Texas grew its position in Lexicon Pharmaceuticals by 60.3% in the fourth quarter. Teacher Retirement System of Texas now owns 65,415 shares of the biopharmaceutical company's stock worth $48,000 after buying an additional 24,615 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Lexicon Pharmaceuticals by 27.4% in the fourth quarter. Bank of America Corp DE now owns 136,407 shares of the biopharmaceutical company's stock worth $101,000 after buying an additional 29,319 shares during the last quarter. 74.70% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on LXRX. StockNews.com began coverage on shares of Lexicon Pharmaceuticals in a report on Saturday. They set a "sell" rating for the company. HC Wainwright reissued a "buy" rating and set a $4.00 target price on shares of Lexicon Pharmaceuticals in a research note on Friday, March 28th. Piper Sandler dropped their price target on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an "overweight" rating on the stock in a research note on Friday, March 7th. Leerink Partners reiterated a "market perform" rating and set a $1.00 price objective (down from $2.00) on shares of Lexicon Pharmaceuticals in a research report on Tuesday, March 4th. Finally, Leerink Partnrs lowered Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Lexicon Pharmaceuticals currently has an average rating of "Hold" and a consensus price target of $3.67.
Read Our Latest Stock Report on LXRX
Lexicon Pharmaceuticals Price Performance
Shares of NASDAQ:LXRX traded down $0.02 during trading on Friday, reaching $0.42. The company had a trading volume of 10,928,259 shares, compared to its average volume of 6,144,016. Lexicon Pharmaceuticals has a twelve month low of $0.28 and a twelve month high of $2.45. 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 has a market capitalization of $103.15 million, a PE ratio of -0.56 and a beta of 1.02. The firm's fifty day moving average is $0.57 and its 200 day moving average is $0.96.
Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last issued its quarterly earnings results on Thursday, March 6th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.11) by $0.02. Lexicon Pharmaceuticals had a negative return on equity of 107.38% and a negative net margin of 4,109.41%. The firm had revenue of $26.55 million during the quarter, compared to analyst estimates of $6.48 million. On average, equities analysts forecast that Lexicon Pharmaceuticals will post -0.66 EPS for the current year.
About Lexicon Pharmaceuticals
(
Get Free Report)
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.
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