Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.36 and traded as high as $1.6650. Lexicon Pharmaceuticals shares last traded at $1.62, with a volume of 1,307,347 shares trading hands.

Analyst Ratings Changes

LXRX has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a report on Thursday, January 22nd. Citigroup upped their price target on shares of Lexicon Pharmaceuticals from $2.10 to $2.30 and gave the company a “buy” rating in a report on Tuesday, March 10th. Finally, HC Wainwright set a $6.00 price target on Lexicon Pharmaceuticals in a research report on Thursday, March 12th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Lexicon Pharmaceuticals currently has a consensus rating of “Hold” and an average price target of $4.15.

Lexicon Pharmaceuticals Stock Up 0.6%

The company has a current ratio of 4.88, a quick ratio of 4.87 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $1.44 and a two-hundred day simple moving average of $1.36. The company has a market cap of $686.36 million, a PE ratio of -11.57 and a beta of 0.94.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Thursday, March 5th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The business had revenue of $5.49 million during the quarter, compared to analyst estimates of $3.14 million. Lexicon Pharmaceuticals had a negative net margin of 101.08% and a negative return on equity of 41.94%. As a group, equities research analysts predict that Lexicon Pharmaceuticals, Inc. will post -0.66 earnings per share for the current year.

Insider Transactions at Lexicon Pharmaceuticals

In other Lexicon Pharmaceuticals news, Director Invus Global Management, Llc acquired 1,538,462 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was bought at an average price of $1.30 per share, with a total value of $2,000,000.60. Following the purchase, the director owned 1,538,462 shares in the company, valued at approximately $2,000,000.60. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Raymond Debbane acquired 100,000 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was acquired at an average price of $1.47 per share, with a total value of $147,000.00. Following the acquisition, the director owned 1,904,186 shares in the company, valued at $2,799,153.42. The trade was a 5.54% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 1,790,462 shares of company stock worth $2,369,981 over the last 90 days. 13.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in LXRX. Security National Bank of Sioux City Iowa IA purchased a new position in Lexicon Pharmaceuticals during the fourth quarter worth approximately $31,000. Hudson Bay Capital Management LP purchased a new stake in Lexicon Pharmaceuticals in the 2nd quarter valued at $26,000. Leonteq Securities AG purchased a new stake in Lexicon Pharmaceuticals in the 4th quarter valued at $34,000. Vermillion & White Wealth Management Group LLC increased its stake in shares of Lexicon Pharmaceuticals by 400.0% in the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 32,500 shares of the biopharmaceutical company’s stock worth $44,000 after acquiring an additional 26,000 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in shares of Lexicon Pharmaceuticals in the 4th quarter worth $39,000. Institutional investors and hedge funds own 74.70% of the company’s stock.

About Lexicon Pharmaceuticals

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company focused on the discovery and development of novel medicines through its proprietary genome biology platform. By leveraging large-scale gene knockout libraries, the company identifies potential therapeutic targets and advances them through preclinical and clinical development. Lexicon’s approach emphasizes the translation of genetic insights into targeted therapies for a range of human diseases.

The company’s most advanced product is telotristat ethyl (sold under the brand name XERMELO), an oral treatment approved for the management of carcinoid syndrome diarrhea in patients inadequately controlled by somatostatin analog therapy.