Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 13,435,509 shares, a decrease of 13.8% from the October 13th total of 15,586,182 shares. Based on an average daily volume of 742,164 shares, the short-interest ratio is currently 18.1 days. Currently, 13.1% of the shares of the stock are short sold.
In other Lexicon Pharmaceuticals news, Director Public Equities L.P. Invus purchased 575,946 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was purchased at an average price of $9.64 per share, with a total value of $5,552,119.44. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lonnel Coats purchased 30,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was acquired at an average cost of $12.54 per share, with a total value of $376,200.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 754,626 shares of company stock valued at $7,378,703 in the last three months. Insiders own 5.77% of the company’s stock.
Several large investors have recently modified their holdings of the company. Principal Financial Group Inc. increased its position in shares of Lexicon Pharmaceuticals by 0.3% during the first quarter. Principal Financial Group Inc. now owns 22,684 shares of the biopharmaceutical company’s stock worth $325,000 after acquiring an additional 70 shares during the period. Legal & General Group Plc increased its holdings in Lexicon Pharmaceuticals by 2.6% during the second quarter. Legal & General Group Plc now owns 18,570 shares of the biopharmaceutical company’s stock valued at $305,000 after buying an additional 465 shares during the period. First Mercantile Trust Co. increased its holdings in Lexicon Pharmaceuticals by 11.2% during the second quarter. First Mercantile Trust Co. now owns 12,212 shares of the biopharmaceutical company’s stock valued at $201,000 after buying an additional 1,227 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Lexicon Pharmaceuticals by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 36,417 shares of the biopharmaceutical company’s stock valued at $599,000 after buying an additional 1,291 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Lexicon Pharmaceuticals by 3.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 42,885 shares of the biopharmaceutical company’s stock valued at $705,000 after buying an additional 1,615 shares during the period.
Shares of Lexicon Pharmaceuticals (NASDAQ LXRX) opened at $9.44 on Wednesday. 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 issued its earnings results on Wednesday, November 8th. The biopharmaceutical company reported ($0.29) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.36) by $0.07. The business had revenue of $26.94 million for the quarter, compared to analyst estimates of $27.97 million. Lexicon Pharmaceuticals had a negative net margin of 165.69% and a negative return on equity of 111.68%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the company posted ($0.35) earnings per share. equities analysts expect that Lexicon Pharmaceuticals will post -1.45 EPS for the current year.
A number of research analysts recently commented on the stock. Cowen and Company reaffirmed a “hold” rating on shares of Lexicon Pharmaceuticals in a report on Tuesday, August 1st. Zacks Investment Research raised shares of Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Wedbush reaffirmed an “ourperform” rating and issued a $39.00 price target on shares of Lexicon Pharmaceuticals in a report on Monday, August 7th. BidaskClub downgraded shares of Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $21.00 price target on shares of Lexicon Pharmaceuticals in a report on Sunday, September 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Lexicon Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $28.75.
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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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