Short Interest in Lexicon Pharmaceuticals, Inc. (LXRX) Declines By 13.8%
Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 13,435,509 shares, a drop of 13.8% from the October 13th total of 15,586,182 shares. Approximately 13.1% of the shares of the stock are sold short. Based on an average daily volume of 742,164 shares, the days-to-cover ratio is currently 18.1 days.
In other Lexicon Pharmaceuticals news, CEO Lonnel Coats bought 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was purchased at an average price of $9.91 per share, for a total transaction of $99,100.00. Following the completion of the transaction, the chief executive officer now owns 42,985 shares of the company’s stock, valued at approximately $425,981.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Public Equities L.P. Invus bought 145,680 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were acquired at an average price of $9.74 per share, with a total value of $1,418,923.20. The disclosure for this purchase can be found here. Insiders have purchased 764,626 shares of company stock valued at $7,477,803 in the last quarter. 5.77% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the company. State of Wisconsin Investment Board bought a new stake in shares of Lexicon Pharmaceuticals in the 2nd quarter valued at approximately $510,000. Goldman Sachs Group Inc. lifted its stake in shares of Lexicon Pharmaceuticals by 17.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 134,043 shares of the biopharmaceutical company’s stock valued at $2,205,000 after purchasing an additional 20,379 shares during the last quarter. Kornitzer Capital Management Inc. KS bought a new stake in shares of Lexicon Pharmaceuticals in the 3rd quarter valued at approximately $9,420,000. Pictet Asset Management Ltd. lifted its stake in shares of Lexicon Pharmaceuticals by 10.4% in the 2nd quarter. Pictet Asset Management Ltd. now owns 67,950 shares of the biopharmaceutical company’s stock valued at $941,000 after purchasing an additional 6,400 shares during the last quarter. Finally, First Mercantile Trust Co. lifted its stake in shares of Lexicon Pharmaceuticals by 11.2% in the 2nd quarter. First Mercantile Trust Co. now owns 12,212 shares of the biopharmaceutical company’s stock valued at $201,000 after purchasing an additional 1,227 shares during the last quarter.
Several analysts recently issued reports on LXRX shares. Wedbush reiterated an “ourperform” rating and set a $39.00 target price on shares of Lexicon Pharmaceuticals in a research report on Monday, August 7th. Zacks Investment Research cut Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. BidaskClub cut Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Cowen and Company restated a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Tuesday, August 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $21.00 price target on shares of Lexicon Pharmaceuticals in a report on Sunday, September 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Lexicon Pharmaceuticals has a consensus rating of “Hold” and an average price target of $28.75.
Lexicon Pharmaceuticals (NASDAQ LXRX) opened at $10.00 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.66 and a quick ratio of 1.65. Lexicon Pharmaceuticals has a 1-year low of $8.07 and a 1-year high of $18.00.
Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.07. The business had revenue of $26.94 million during the quarter, compared to analysts’ expectations of $27.97 million. Lexicon Pharmaceuticals had a negative return on equity of 111.68% and a negative net margin of 165.69%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.35) EPS. analysts anticipate that Lexicon Pharmaceuticals will post -1.45 earnings per share for the current fiscal year.
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Lexicon Pharmaceuticals Company Profile
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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