Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.45 and traded as high as $1.66. Lexicon Pharmaceuticals shares last traded at $1.63, with a volume of 1,398,156 shares changing hands.

Analysts Set New Price Targets

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

Lexicon Pharmaceuticals Trading Up 1.2%

The business has a fifty day moving average price of $1.65 and a 200 day moving average price of $1.45. The company has a market capitalization of $690.60 million, a PE ratio of -11.64 and a beta of 0.97. The company has a debt-to-equity ratio of 0.46, a quick ratio of 4.87 and a current ratio of 4.88.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings data on Thursday, March 5th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.03. The company had revenue of $5.49 million for 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%. Analysts expect that Lexicon Pharmaceuticals, Inc. will post -0.19 EPS for the current fiscal year.

Insider Transactions at Lexicon Pharmaceuticals

In related 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 shares were acquired at an average cost of $1.30 per share, for a total transaction 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 filing with the SEC, which can be accessed through this link. Also, Director Raymond Debbane bought 100,000 shares of the company’s stock in a transaction that occurred 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 completion of the acquisition, the director owned 1,904,186 shares in the company, valued at approximately $2,799,153.42. This trade represents a 5.54% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 1,790,462 shares of company stock worth $2,369,981. Company insiders own 14.00% of the company’s stock.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. R Squared Ltd raised its holdings in shares of Lexicon Pharmaceuticals by 45.3% during the 4th quarter. R Squared Ltd now owns 46,579 shares of the biopharmaceutical company’s stock valued at $54,000 after buying an additional 14,530 shares during the period. Bank of America Corp DE raised its holdings in shares of Lexicon Pharmaceuticals by 80.1% during the 3rd quarter. Bank of America Corp DE now owns 57,804 shares of the biopharmaceutical company’s stock valued at $78,000 after buying an additional 25,707 shares during the period. Vermillion & White Wealth Management Group LLC raised its holdings in shares of Lexicon Pharmaceuticals by 400.0% during the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 32,500 shares of the biopharmaceutical company’s stock valued at $44,000 after buying an additional 26,000 shares during the period. Security National Bank of Sioux City Iowa IA purchased a new stake in Lexicon Pharmaceuticals during the 4th quarter worth approximately $31,000. Finally, Hudson Bay Capital Management LP purchased a new stake in Lexicon Pharmaceuticals during the 2nd quarter worth approximately $26,000. 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.