Lexicon Pharmaceuticals (NASDAQ:LXRX) Share Price Passes 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 Monday . The stock has a two hundred day moving average of $1.39 and traded as high as $1.66. Lexicon Pharmaceuticals shares last traded at $1.51, with a volume of 3,357,632 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Citigroup upped their price target on shares of Lexicon Pharmaceuticals from $2.10 to $2.30 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research note on Thursday, January 22nd. Finally, HC Wainwright reiterated a “buy” rating and set a $6.00 target price on shares of Lexicon Pharmaceuticals in a research report on Monday, March 23rd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $4.15.

Lexicon Pharmaceuticals Price Performance

The company has a 50 day moving average price of $1.50 and a 200 day moving average price of $1.39. The company has a market capitalization of $639.76 million, a price-to-earnings ratio of -10.78 and a beta of 0.94. The company has a current ratio of 4.88, a quick ratio of 4.87 and a debt-to-equity ratio of 0.46.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings results on Thursday, March 5th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. The business 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%. As a group, equities research analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.66 earnings per share for the current year.

Insider Activity

In other Lexicon Pharmaceuticals news, Director Invus Global Management, Llc bought 1,538,462 shares of Lexicon Pharmaceuticals stock in a transaction dated Monday, February 2nd. The shares were bought at an average price of $1.30 per share, with a total value of $2,000,000.60. Following the purchase, the director owned 1,538,462 shares of the company’s stock, valued at $2,000,000.60. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Raymond Debbane purchased 100,000 shares of the stock in a transaction dated Monday, February 23rd. The shares were acquired at an average price of $1.47 per share, with a total value of $147,000.00. Following the transaction, the director owned 1,904,186 shares in the company, valued at $2,799,153.42. This trade represents a 5.54% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 1,790,462 shares of company stock valued at $2,369,981 over the last three months. Company insiders own 14.00% of the company’s stock.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC acquired a new stake in Lexicon Pharmaceuticals during the 4th quarter worth $42,000. Invesco Ltd. lifted its stake in shares of Lexicon Pharmaceuticals by 14.1% in the 4th quarter. Invesco Ltd. now owns 594,883 shares of the biopharmaceutical company’s stock valued at $684,000 after purchasing an additional 73,480 shares during the period. Millennium Management LLC lifted its stake in shares of Lexicon Pharmaceuticals by 25.9% in the 4th quarter. Millennium Management LLC now owns 4,821,733 shares of the biopharmaceutical company’s stock valued at $5,545,000 after purchasing an additional 991,073 shares during the period. Ishara Investments LP bought a new position in shares of Lexicon Pharmaceuticals in the 4th quarter worth $1,012,000. Finally, ExodusPoint Capital Management LP bought a new position in shares of Lexicon Pharmaceuticals in the 4th quarter worth $309,000. 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.