Lexicon Pharmaceuticals (NASDAQ:LXRX) Share Price Passes Above Two Hundred 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 Thursday . The stock has a 200-day moving average of $1.58 and traded as high as $1.9450. Lexicon Pharmaceuticals shares last traded at $1.89, with a volume of 2,037,939 shares.

Analyst Upgrades and Downgrades

LXRX has been the topic of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Lexicon Pharmaceuticals in a report on Monday, March 23rd. Citigroup increased their target price on Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the stock a “buy” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $4.55.

Lexicon Pharmaceuticals Trading Up 0.5%

The firm has a market cap of $839.54 million, a P/E ratio of -27.00 and a beta of 1.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 18.77 and a current ratio of 18.80. The firm has a fifty day moving average of $1.90 and a 200-day moving average of $1.58.

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

Institutional Trading of Lexicon Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. UBS Group AG lifted its holdings in shares of Lexicon Pharmaceuticals by 752.1% in the 4th quarter. UBS Group AG now owns 3,007,237 shares of the biopharmaceutical company’s stock worth $3,458,000 after purchasing an additional 2,654,315 shares during the last quarter. R Squared Ltd lifted its holdings in shares of Lexicon Pharmaceuticals by 45.3% in the 4th quarter. R Squared Ltd now owns 46,579 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 14,530 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Lexicon Pharmaceuticals by 15.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 901,222 shares of the biopharmaceutical company’s stock worth $1,036,000 after purchasing an additional 122,010 shares during the last quarter. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of Lexicon Pharmaceuticals by 400.0% in the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 32,500 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 26,000 shares during the last quarter. Finally, Optiver Holding B.V. increased its position in Lexicon Pharmaceuticals by 2,400.6% in the 3rd quarter. Optiver Holding B.V. now owns 75,893 shares of the biopharmaceutical company’s stock valued at $102,000 after acquiring an additional 72,858 shares during the period. 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.