Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

Shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.73 and traded as high as $2.21. Lexicon Pharmaceuticals shares last traded at $2.20, with a volume of 4,408,334 shares changing hands.

Analyst Upgrades and Downgrades

LXRX has been the subject of several recent research reports. Citigroup upped their price target on Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the stock a “buy” rating in a report on Monday, May 11th. Zacks Research upgraded Lexicon Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 3rd. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price objective on shares of Lexicon Pharmaceuticals in a report on Monday, March 23rd. Finally, Weiss Ratings lowered shares of Lexicon Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $4.55.

Lexicon Pharmaceuticals Trading Up 3.8%

The stock has a market capitalization of $977.24 million, a PE ratio of -31.42 and a beta of 1.05. The firm has a 50-day moving average price of $2.15 and a 200-day moving average price of $1.73. The company has a current ratio of 18.80, a quick ratio of 18.77 and a debt-to-equity ratio of 0.24.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Siren L.L.C. grew its position in shares of Lexicon Pharmaceuticals by 13.8% during the 1st quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company’s stock valued at $69,113,000 after acquiring an additional 5,384,615 shares during the period. Vanguard Group Inc. raised its holdings in shares of Lexicon Pharmaceuticals by 7.6% in the 3rd quarter. Vanguard Group Inc. now owns 9,521,874 shares of the biopharmaceutical company’s stock worth $12,855,000 after purchasing an additional 670,838 shares during the period. Millennium Management LLC lifted its stake in Lexicon Pharmaceuticals by 25.9% in the fourth 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 last quarter. UBS Group AG lifted its stake 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 last quarter. Finally, Geode Capital Management LLC grew its holdings in Lexicon Pharmaceuticals by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 2,500,022 shares of the biopharmaceutical company’s stock valued at $2,876,000 after purchasing an additional 102,099 shares during the period. 74.70% of the stock is currently 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.