Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) shares passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.41 and traded as high as $1.70. Lexicon Pharmaceuticals shares last traded at $1.67, with a volume of 2,302,921 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LXRX shares. Citigroup upped their price target on Lexicon Pharmaceuticals from $2.10 to $2.30 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, January 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Lexicon Pharmaceuticals in a research report on Monday, March 23rd. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.15.

Lexicon Pharmaceuticals Trading Up 4.4%

The company has a market cap of $707.55 million, a price-to-earnings ratio of -11.93 and a beta of 0.94. 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 fifty day moving average price of $1.51 and a 200 day moving average price of $1.41.

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

Insider Activity at Lexicon Pharmaceuticals

In related news, Director Invus Global Management, Llc acquired 1,538,462 shares of the business’s stock in a transaction dated 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 acquisition, the director owned 1,538,462 shares in the company, valued at $2,000,000.60. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raymond Debbane acquired 100,000 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was bought at an average cost 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 disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 1,790,462 shares of company stock valued at $2,369,981. 14.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Lexicon Pharmaceuticals by 7.6% in the 3rd quarter. Vanguard Group Inc. now owns 9,521,874 shares of the biopharmaceutical company’s stock valued at $12,855,000 after acquiring an additional 670,838 shares during the period. Millennium Management LLC raised its stake in Lexicon Pharmaceuticals by 25.9% in the 4th quarter. Millennium Management LLC now owns 4,821,733 shares of the biopharmaceutical company’s stock valued at $5,545,000 after acquiring an additional 991,073 shares during the period. UBS Group AG raised its stake in Lexicon Pharmaceuticals by 752.1% in the 4th quarter. UBS Group AG now owns 3,007,237 shares of the biopharmaceutical company’s stock valued at $3,458,000 after acquiring an additional 2,654,315 shares during the period. Geode Capital Management LLC raised its stake in Lexicon Pharmaceuticals by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 2,500,022 shares of the biopharmaceutical company’s stock valued at $2,876,000 after acquiring an additional 102,099 shares during the period. Finally, CIBC Bancorp USA Inc. bought a new stake in Lexicon Pharmaceuticals in the 3rd quarter valued at $3,240,000. Institutional investors 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.