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

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.62 and traded as high as $2.38. Lexicon Pharmaceuticals shares last traded at $2.29, with a volume of 3,394,970 shares changing hands.

Analysts Set New Price Targets

LXRX has been the subject of a number of research analyst reports. HC Wainwright reissued a “buy” rating and issued a $6.00 target price on shares of Lexicon Pharmaceuticals in a research report on Monday, March 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, June 18th. Finally, Citigroup boosted their price objective on Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the company a “buy” rating in a research note on Monday, May 11th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Lexicon Pharmaceuticals presently has an average rating of “Hold” and an average target price of $4.55.

Lexicon Pharmaceuticals Trading Up 11.4%

The company has a debt-to-equity ratio of 0.24, a current ratio of 18.80 and a quick ratio of 18.77. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -36.42 and a beta of 1.07. The business’s 50 day simple moving average is $2.00 and its 200 day simple moving average is $1.63.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.00) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.04. Lexicon Pharmaceuticals had a negative return on equity of 18.64% and a negative net margin of 37.46%.The business had revenue of $21.10 million during the quarter, compared to analysts’ expectations of $9.79 million. Research analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.17 EPS for the current year.

Institutional Trading of Lexicon Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Siren L.L.C. increased its stake in shares of Lexicon Pharmaceuticals by 13.8% during the first quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company’s stock worth $69,113,000 after acquiring an additional 5,384,615 shares during the period. UBS Group AG lifted its position 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. acquired a new stake in Lexicon Pharmaceuticals in the third quarter valued at about $3,240,000. Millennium Management LLC boosted its holdings in 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 in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Lexicon Pharmaceuticals by 508.0% in the 1st quarter. Renaissance Technologies LLC now owns 1,600,500 shares of the biopharmaceutical company’s stock valued at $2,497,000 after purchasing an additional 1,337,246 shares in the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.

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.