Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Gap Up – Here’s What Happened

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $1.32, but opened at $1.42. Lexicon Pharmaceuticals shares last traded at $1.4340, with a volume of 855,327 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have commented on LXRX shares. Wall Street Zen lowered Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research note on Thursday, January 22nd. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.23.

Lexicon Pharmaceuticals Stock Up 11.0%

The firm has a market cap of $532.48 million, a P/E ratio of -7.71 and a beta of 0.98. The firm’s 50 day moving average is $1.28 and its two-hundred day moving average is $1.30. The company has a current ratio of 5.64, a quick ratio of 5.63 and a debt-to-equity ratio of 0.47.

Insider Activity

In other Lexicon Pharmaceuticals news, Director Invus Global Management, Llc acquired 1,538,462 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were acquired at an average price of $1.30 per share, for a total transaction of $2,000,000.60. Following the acquisition, the director directly owned 1,538,462 shares of the company’s stock, valued at approximately $2,000,000.60. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in LXRX. Vanguard Group Inc. increased its holdings in Lexicon Pharmaceuticals by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,521,874 shares of the biopharmaceutical company’s stock worth $12,855,000 after purchasing an additional 670,838 shares in the last quarter. Millennium Management LLC boosted its position in shares of Lexicon Pharmaceuticals by 25.9% during the fourth quarter. Millennium Management LLC now owns 4,821,733 shares of the biopharmaceutical company’s stock worth $5,545,000 after buying an additional 991,073 shares during the period. UBS Group AG grew its holdings in shares of Lexicon Pharmaceuticals by 752.1% during the fourth quarter. UBS Group AG now owns 3,007,237 shares of the biopharmaceutical company’s stock worth $3,458,000 after buying an additional 2,654,315 shares in the last quarter. Geode Capital Management LLC raised its position 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 buying an additional 102,099 shares during the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in Lexicon Pharmaceuticals in the 3rd quarter valued at approximately $3,240,000. 74.70% of the stock is currently 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.