Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.98 and traded as high as $2.27. Lexicon Pharmaceuticals shares last traded at $2.24, with a volume of 2,335,858 shares changing hands.

Analyst Upgrades and Downgrades

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

Lexicon Pharmaceuticals Price Performance

The company has a current ratio of 13.37, a quick ratio of 13.29 and a debt-to-equity ratio of 0.29. The company’s fifty day simple moving average is $2.33 and its 200-day simple moving average is $1.99. The stock has a market cap of $994.49 million, a P/E ratio of -14.90 and a beta of 1.02.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings data 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). Lexicon Pharmaceuticals had a negative return on equity of 37.53% and a negative net margin of 147.38%.The firm had revenue of $0.69 million for the quarter, compared to analyst estimates of $3.99 million. As a group, sell-side analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.17 EPS for the current year.

Institutional Trading of Lexicon Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE grew its holdings in shares of Lexicon Pharmaceuticals by 27.4% during the fourth quarter. Bank of America Corp DE now owns 136,407 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 29,319 shares in the last quarter. Invesco Ltd. increased its position in Lexicon Pharmaceuticals by 173.5% during the first quarter. Invesco Ltd. now owns 285,759 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 181,265 shares during the last quarter. AQR Capital Management LLC bought a new position in Lexicon Pharmaceuticals during the first quarter worth $541,000. Acadian Asset Management LLC bought a new position in Lexicon Pharmaceuticals in the 1st quarter valued at about $263,000. Finally, XTX Topco Ltd boosted its stake in Lexicon Pharmaceuticals by 431.4% in the 2nd quarter. XTX Topco Ltd now owns 66,276 shares of the biopharmaceutical company’s stock valued at $63,000 after purchasing an additional 53,805 shares during the period. 74.70% of the stock is owned by 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.