Short Interest in Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Decreases By 14.2%

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) was the recipient of a large decline in short interest in the month of 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 volume of 2,810,000 shares, the short-interest ratio is presently 7.7 days.

Lexicon Pharmaceuticals Trading Down 4.5 %

NASDAQ LXRX traded down $0.07 during trading hours on Tuesday, reaching $1.60. The company had a trading volume of 1,764,918 shares, compared to its average volume of 3,724,318. The stock has a market capitalization of $393.98 million, a P/E ratio of -1.93 and a beta of 1.35. Lexicon Pharmaceuticals has a 1-year low of $0.92 and a 1-year high of $3.73. The company has a current ratio of 15.58, a quick ratio of 15.56 and a debt-to-equity ratio of 0.35. The stock has a 50-day moving average of $1.74 and a 200 day moving average of $1.92.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On Lexicon Pharmaceuticals

A number of hedge funds have recently modified their holdings of LXRX. Virtu Financial LLC acquired a new position in shares of Lexicon Pharmaceuticals during the 1st quarter worth $105,000. Boulder Hill Capital Management LP purchased a new stake in shares of Lexicon Pharmaceuticals during the 1st quarter worth about $615,000. Vanguard Group Inc. grew its holdings in shares of Lexicon Pharmaceuticals by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 6,401,225 shares of the biopharmaceutical company’s stock worth $15,363,000 after purchasing an additional 420,854 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Lexicon Pharmaceuticals by 82.6% during the 1st quarter. BNP Paribas Financial Markets now owns 59,378 shares of the biopharmaceutical company’s stock worth $143,000 after purchasing an additional 26,859 shares during the period. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Lexicon Pharmaceuticals by 65.7% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 46,930 shares of the biopharmaceutical company’s stock worth $113,000 after purchasing an additional 18,601 shares during the period. 74.70% of the stock is currently owned by hedge funds and other institutional investors.

About Lexicon Pharmaceuticals

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.