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

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.69 and traded as high as $2.44. Lexicon Pharmaceuticals shares last traded at $2.37, with a volume of 4,745,119 shares.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LXRX shares. 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. Citigroup boosted their price target on Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the company a “buy” rating in a research note on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a report on Thursday, June 18th. Finally, Zacks Research upgraded Lexicon Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $4.55.

Lexicon Pharmaceuticals Price Performance

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 stock has a fifty day simple moving average of $2.08 and a 200-day simple moving average of $1.69. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -33.85 and a beta of 1.05.

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

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG boosted its stake in shares of Lexicon Pharmaceuticals by 752.1% in the fourth quarter. UBS Group AG now owns 3,007,237 shares of the biopharmaceutical company’s stock worth $3,458,000 after acquiring an additional 2,654,315 shares during the last quarter. Ishara Investments LP purchased a new position in Lexicon Pharmaceuticals in the 4th quarter valued at $1,012,000. Leonteq Securities AG acquired a new stake in Lexicon Pharmaceuticals during the 4th quarter worth $34,000. Renaissance Technologies LLC boosted its stake in Lexicon Pharmaceuticals by 508.0% during the 1st quarter. Renaissance Technologies LLC now owns 1,600,500 shares of the biopharmaceutical company’s stock worth $2,497,000 after purchasing an additional 1,337,246 shares during the last quarter. Finally, Bank of Nova Scotia purchased a new stake in shares of Lexicon Pharmaceuticals during the first quarter worth $115,000. 74.70% of the stock is owned by hedge funds and other institutional investors.

About Lexicon Pharmaceuticals

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.