Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.94 and traded as high as $2.37. Lexicon Pharmaceuticals shares last traded at $2.34, with a volume of 1,820,948 shares.

Analyst Ratings Changes

A number of analysts have commented on LXRX shares. Citigroup upped their price target on Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the stock a “buy” rating in a research report on Monday, May 11th. Zacks Research cut shares of Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Weiss Ratings raised shares of Lexicon Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, July 23rd. Finally, Wall Street Zen cut shares of Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Lexicon Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $4.55.

Lexicon Pharmaceuticals Stock Performance

The firm’s 50-day moving average price is $2.31 and its 200-day moving average price is $1.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 13.37 and a quick ratio of 13.29. The stock has a market cap of $1.03 billion, a P/E ratio of -15.47 and a beta of 1.08.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $0.69 million for the quarter, compared to analysts’ expectations of $3.99 million. Lexicon Pharmaceuticals had a negative net margin of 147.38% and a negative return on equity of 37.53%. Sell-side analysts expect that Lexicon Pharmaceuticals, Inc. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LXRX. Siren L.L.C. boosted its position in shares of Lexicon Pharmaceuticals by 13.8% during the 1st quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company’s stock valued at $69,113,000 after acquiring an additional 5,384,615 shares during the last quarter. Renaissance Technologies LLC increased its position in Lexicon Pharmaceuticals by 508.0% in the first quarter. Renaissance Technologies LLC now owns 1,600,500 shares of the biopharmaceutical company’s stock worth $2,497,000 after purchasing an additional 1,337,246 shares during the last quarter. ADAR1 Capital Management LLC purchased a new stake in Lexicon Pharmaceuticals during the first quarter valued at $1,170,000. UBS Group AG raised its stake in Lexicon Pharmaceuticals by 752.1% during 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 in the last quarter. Finally, Ishara Investments LP bought a new position in Lexicon Pharmaceuticals during the fourth quarter valued at $1,012,000. 74.70% of the stock is owned by 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.