Short Interest in Lexicon Pharmaceuticals, Inc. (LXRX) Drops By 17.3%

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) was the recipient of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 10,579,284 shares, a decrease of 17.3% from the November 15th total of 12,789,144 shares. Currently, 10.3% of the company’s stock are sold short. Based on an average daily volume of 866,232 shares, the short-interest ratio is presently 12.2 days.

LXRX has been the topic of several research reports. Needham & Company LLC reiterated a “buy” rating and set a $21.00 price objective on shares of Lexicon Pharmaceuticals in a report on Sunday, September 17th. Wedbush reissued an “outperform” rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, October 5th. Finally, Zacks Investment Research downgraded shares of Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Lexicon Pharmaceuticals has a consensus rating of “Hold” and an average price target of $28.50.

Shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) opened at $10.12 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.65 and a debt-to-equity ratio of 1.09. Lexicon Pharmaceuticals has a 52-week low of $8.07 and a 52-week high of $18.00.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.07. The company had revenue of $26.94 million during the quarter, compared to the consensus estimate of $27.97 million. Lexicon Pharmaceuticals had a negative net margin of 165.69% and a negative return on equity of 111.68%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.35) earnings per share. equities analysts forecast that Lexicon Pharmaceuticals will post -1.38 earnings per share for the current fiscal year.

In related news, CEO Lonnel Coats acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were purchased at an average price of $9.91 per share, for a total transaction of $99,100.00. Following the completion of the acquisition, the chief executive officer now owns 42,985 shares of the company’s stock, valued at $425,981.35. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Public Equities L.P. Invus acquired 145,680 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were bought at an average price of $9.74 per share, for a total transaction of $1,418,923.20. The disclosure for this purchase can be found here. Insiders have bought 914,353 shares of company stock worth $8,916,253 in the last quarter. Company insiders own 5.77% of the company’s stock.

Several large investors have recently bought and sold shares of LXRX. Morgan Stanley increased its position in shares of Lexicon Pharmaceuticals by 22.7% during the first quarter. Morgan Stanley now owns 174,765 shares of the biopharmaceutical company’s stock worth $2,505,000 after acquiring an additional 32,276 shares in the last quarter. Credit Suisse AG increased its position in shares of Lexicon Pharmaceuticals by 27.5% during the first quarter. Credit Suisse AG now owns 92,548 shares of the biopharmaceutical company’s stock worth $1,327,000 after acquiring an additional 19,978 shares in the last quarter. Pictet Asset Management Ltd. grew its position in Lexicon Pharmaceuticals by 10.4% in the 2nd quarter. Pictet Asset Management Ltd. now owns 67,950 shares of the biopharmaceutical company’s stock worth $941,000 after purchasing an additional 6,400 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Lexicon Pharmaceuticals by 0.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 193,318 shares of the biopharmaceutical company’s stock worth $3,181,000 after purchasing an additional 1,633 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new stake in Lexicon Pharmaceuticals in the 2nd quarter worth about $2,365,000.

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About Lexicon Pharmaceuticals

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company. The Company focuses on the development and commercialization of breakthrough treatments for human disease. Its drug programs include XERMELO (telotristat ethyl), sotagliflozin, LX2761 and LX9211. It also has a number of additional compounds into various stages of clinical and preclinical development.

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