Lexicon Pharmaceuticals (NASDAQ:LXRX) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $0.78 and traded as high as $1.14. Lexicon Pharmaceuticals shares last traded at $1.10, with a volume of 1,453,797 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Citigroup raised their price objective on shares of Lexicon Pharmaceuticals from $1.20 to $1.90 and gave the company a “buy” rating in a research note on Thursday, August 7th. HC Wainwright reaffirmed a “buy” rating and set a $4.00 price target on shares of Lexicon Pharmaceuticals in a report on Tuesday, September 2nd. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $3.23.

Lexicon Pharmaceuticals Stock Performance

The company has a quick ratio of 4.16, a current ratio of 4.16 and a debt-to-equity ratio of 0.43. The company has a market cap of $399.74 million, a PE ratio of -3.33 and a beta of 1.26. The business’s fifty day moving average is $1.13 and its 200-day moving average is $0.78.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $28.87 million for the quarter, compared to the consensus estimate of $4.87 million. Lexicon Pharmaceuticals had a negative net margin of 206.43% and a negative return on equity of 83.63%. As a group, research analysts predict that Lexicon Pharmaceuticals, Inc. will post -0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. lifted its holdings in Lexicon Pharmaceuticals by 630.7% during the fourth quarter. Point72 Asset Management L.P. now owns 8,988,421 shares of the biopharmaceutical company’s stock valued at $6,638,000 after purchasing an additional 7,758,371 shares in the last quarter. Northern Trust Corp lifted its holdings in Lexicon Pharmaceuticals by 14.4% during the fourth quarter. Northern Trust Corp now owns 1,308,651 shares of the biopharmaceutical company’s stock valued at $966,000 after purchasing an additional 164,620 shares in the last quarter. AQR Capital Management LLC purchased a new position in Lexicon Pharmaceuticals during the first quarter valued at approximately $541,000. Monaco Asset Management SAM purchased a new position in Lexicon Pharmaceuticals during the first quarter valued at approximately $338,000. Finally, Acadian Asset Management LLC purchased a new position in Lexicon Pharmaceuticals during the first quarter valued at approximately $263,000. Hedge funds and other institutional investors own 74.70% of the company’s stock.

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.