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

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s stock price passed 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 trading hands.

Analyst Ratings Changes

A number of research firms recently issued reports on LXRX. Citigroup lifted their target price on Lexicon Pharmaceuticals from $2.10 to $2.30 and gave the company a “buy” rating in a report on Tuesday, March 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a report on Thursday, January 22nd. Finally, HC Wainwright reiterated a “buy” rating and issued a $6.00 target price on shares of Lexicon Pharmaceuticals in a report on Monday, March 23rd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Lexicon Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $4.15.

Lexicon Pharmaceuticals Stock Performance

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

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings data on Thursday, March 5th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.03. The company had revenue of $5.49 million for the quarter, compared to analyst estimates of $3.14 million. Lexicon Pharmaceuticals had a negative return on equity of 41.94% and a negative net margin of 101.08%. On average, research analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.19 EPS for the current fiscal year.

Insider Activity

In other Lexicon Pharmaceuticals news, Director Raymond Debbane bought 100,000 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was acquired at an average price of $1.47 per share, for a total transaction of $147,000.00. Following the completion of the purchase, the director owned 1,904,186 shares of the company’s stock, valued at approximately $2,799,153.42. This represents a 5.54% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Invus Global Management, Llc acquired 1,538,462 shares of Lexicon Pharmaceuticals stock in a transaction on Monday, February 2nd. The shares were bought at an average cost of $1.30 per share, with a total value of $2,000,000.60. Following the completion of the purchase, the director owned 1,538,462 shares in the company, valued at $2,000,000.60. The trade was a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 1,790,462 shares of company stock valued at $2,369,981 in the last quarter. Insiders own 14.00% of the company’s stock.

Institutional Trading of Lexicon Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its stake in Lexicon Pharmaceuticals by 27.4% during the 4th quarter. Bank of America Corp DE now owns 136,407 shares of the biopharmaceutical company’s stock valued at $101,000 after acquiring an additional 29,319 shares during the last quarter. State of Wyoming raised its stake in Lexicon Pharmaceuticals by 610.4% during the 4th quarter. State of Wyoming now owns 60,571 shares of the biopharmaceutical company’s stock valued at $70,000 after acquiring an additional 52,045 shares during the last quarter. CIBC Asset Management Inc purchased a new stake in Lexicon Pharmaceuticals during the 4th quarter valued at approximately $45,000. EntryPoint Capital LLC acquired a new position in shares of Lexicon Pharmaceuticals during the fourth quarter worth about $39,000. Finally, Security National Bank of Sioux City Iowa IA acquired a new position in shares of Lexicon Pharmaceuticals during the fourth quarter worth about $31,000. 74.70% of the stock is owned by hedge funds and other institutional investors.

Lexicon Pharmaceuticals Company Profile

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.