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

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.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LXRX. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Lexicon Pharmaceuticals in a research note on Monday, March 23rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research note on Thursday, June 18th. Finally, Citigroup lifted 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 equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Lexicon Pharmaceuticals presently has an average rating of “Hold” and an average target price of $4.55.

Lexicon Pharmaceuticals Price Performance

The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -32.71 and a beta of 1.07. The company has a quick ratio of 18.77, a current ratio of 18.80 and a debt-to-equity ratio of 0.24. The company’s 50-day moving average price is $1.98 and its 200-day moving average price is $1.62.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.00) EPS for the quarter, beating the consensus estimate of ($0.04) by $0.04. The business had revenue of $21.10 million during the quarter, compared to analyst estimates of $9.79 million. Lexicon Pharmaceuticals had a negative net margin of 37.46% and a negative return on equity of 18.64%. On average, equities research analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CTC Alternative Strategies Ltd. acquired a new position in shares of Lexicon Pharmaceuticals in the first quarter worth $27,000. Bank of America Corp DE increased its position in shares of Lexicon Pharmaceuticals by 415.3% during the first quarter. Bank of America Corp DE now owns 526,103 shares of the biopharmaceutical company’s stock worth $821,000 after acquiring an additional 424,006 shares during the period. ADAR1 Capital Management LLC acquired a new stake in shares of Lexicon Pharmaceuticals in the first quarter valued at $1,170,000. Bridgewater Advisors Inc. acquired a new stake in shares of Lexicon Pharmaceuticals in the first quarter valued at $128,000. Finally, Renaissance Technologies LLC boosted its holdings 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 valued at $2,497,000 after purchasing an additional 1,337,246 shares during the period. 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.