Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.39 and traded as high as $1.66. Lexicon Pharmaceuticals shares last traded at $1.51, with a volume of 3,357,632 shares trading hands.

Wall Street Analysts Forecast Growth

LXRX has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, January 22nd. HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Lexicon Pharmaceuticals in a report on Monday, March 23rd. Finally, Citigroup increased their price objective on shares of Lexicon Pharmaceuticals from $2.10 to $2.30 and gave the company a “buy” rating in a research note on Tuesday, March 10th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $4.15.

Lexicon Pharmaceuticals Price Performance

The company has a 50-day moving average of $1.50 and a 200 day moving average of $1.39. The company has a debt-to-equity ratio of 0.46, a quick ratio of 4.87 and a current ratio of 4.88. The firm has a market cap of $639.76 million, a P/E ratio of -10.78 and a beta of 0.94.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings results on Thursday, March 5th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. Lexicon Pharmaceuticals had a negative return on equity of 41.94% and a negative net margin of 101.08%.The firm had revenue of $5.49 million for the quarter, compared to analysts’ expectations of $3.14 million. On average, sell-side analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.66 EPS for the current year.

Insider Activity

In other news, Director Invus Global Management, Llc bought 1,538,462 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was acquired at an average price of $1.30 per share, for a total transaction of $2,000,000.60. Following the transaction, the director directly owned 1,538,462 shares of the company’s stock, valued at $2,000,000.60. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Raymond Debbane purchased 100,000 shares of the business’s stock in a transaction that occurred on Monday, February 23rd. The shares were purchased at an average cost of $1.47 per share, with a total value of $147,000.00. Following the completion of the acquisition, the director directly owned 1,904,186 shares in the company, valued at $2,799,153.42. The trade was a 5.54% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders bought 1,790,462 shares of company stock worth $2,369,981. 14.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its position in Lexicon Pharmaceuticals by 27.4% during the 4th quarter. Bank of America Corp DE now owns 136,407 shares of the biopharmaceutical company’s stock worth $101,000 after acquiring an additional 29,319 shares during the last quarter. Invesco Ltd. raised its position in Lexicon Pharmaceuticals by 173.5% in the 1st quarter. Invesco Ltd. now owns 285,759 shares of the biopharmaceutical company’s stock valued at $132,000 after purchasing an additional 181,265 shares during the last quarter. AQR Capital Management LLC acquired a new position in Lexicon Pharmaceuticals in the first quarter worth $541,000. Acadian Asset Management LLC acquired a new position in Lexicon Pharmaceuticals in the first quarter worth $263,000. Finally, XTX Topco Ltd grew its holdings in shares of Lexicon Pharmaceuticals by 431.4% during the second quarter. XTX Topco Ltd now owns 66,276 shares of the biopharmaceutical company’s stock worth $63,000 after purchasing an additional 53,805 shares during the last quarter. 74.70% of the stock is owned by institutional investors and hedge funds.

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.