Raymond Debbane Buys 100,000 Shares of Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Director Raymond Debbane bought 100,000 shares of the stock in a transaction on Monday, February 23rd. The shares were bought at an average price of $1.47 per share, for a total transaction 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Raymond Debbane also recently made the following trade(s):

• On Friday, February 20th, Raymond Debbane purchased 100,000 shares of Lexicon Pharmaceuticals stock. The stock was bought at an average cost of $1.48 per share, with a total value of $148,000.00.
• On Thursday, February 19th, Raymond Debbane acquired 50,000 shares of Lexicon Pharmaceuticals stock. The stock was bought at an average price of $1.44 per share, for a total transaction of $72,000.00.

Lexicon Pharmaceuticals Price Performance

LXRX opened at $1.50 on Friday. The firm has a market cap of $545.21 million, a P/E ratio of -7.89 and a beta of 0.98. The business’s fifty day simple moving average is $1.32 and its 200 day simple moving average is $1.31. Lexicon Pharmaceuticals, Inc. has a 52 week low of $0.28 and a 52 week high of $1.83. The company has a quick ratio of 5.63, a current ratio of 5.64 and a debt-to-equity ratio of 0.47.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. UBS Group AG grew its holdings in Lexicon Pharmaceuticals by 752.1% in the fourth quarter. UBS Group AG now owns 3,007,237 shares of the biopharmaceutical company’s stock valued at $3,458,000 after purchasing an additional 2,654,315 shares during the period. CIBC Bancorp USA Inc. purchased a new position in Lexicon Pharmaceuticals during the third quarter worth approximately $3,240,000. Millennium Management LLC boosted its holdings in shares of Lexicon Pharmaceuticals by 133.1% in the 3rd quarter. Millennium Management LLC now owns 3,830,660 shares of the biopharmaceutical company’s stock valued at $5,171,000 after purchasing an additional 2,187,396 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of Lexicon Pharmaceuticals during the 4th quarter valued at $1,452,000. Finally, AQR Capital Management LLC purchased a new stake in shares of Lexicon Pharmaceuticals during the 1st quarter valued at $541,000. 74.70% of the stock is currently owned by hedge funds and other institutional investors.

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.