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

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 changing hands.

Wall Street Analyst Weigh In

LXRX has been the subject of several research reports. HC Wainwright reissued a “buy” rating and set a $6.00 price objective on shares of Lexicon Pharmaceuticals in a report on Monday, March 23rd. Citigroup increased their price objective on Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the company a “buy” rating in a report on Monday, May 11th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.55.

Lexicon Pharmaceuticals Trading Up 1.6%

The stock has a market cap of $852.86 million, a PE ratio of -27.42 and a beta of 1.07. The firm has a 50-day simple moving average of $1.91 and a 200-day simple moving average of $1.58. The company has a quick ratio of 18.77, a current ratio of 18.80 and a debt-to-equity ratio of 0.24.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its 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 firm 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 analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.17 earnings per share for the current year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Several institutional investors have recently made changes to their positions in LXRX. Bank of America Corp DE lifted its position in shares of Lexicon Pharmaceuticals by 27.4% during the fourth quarter. Bank of America Corp DE now owns 136,407 shares of the biopharmaceutical company’s stock worth $101,000 after acquiring an additional 29,319 shares in the last quarter. Invesco Ltd. raised its position in shares of Lexicon Pharmaceuticals by 173.5% in the first quarter. Invesco Ltd. now owns 285,759 shares of the biopharmaceutical company’s stock worth $132,000 after buying an additional 181,265 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Lexicon Pharmaceuticals in the first quarter worth $541,000. Acadian Asset Management LLC purchased a new stake in shares of Lexicon Pharmaceuticals in the first quarter worth $263,000. Finally, XTX Topco Ltd raised its position in shares of Lexicon Pharmaceuticals by 431.4% in the second quarter. XTX Topco Ltd now owns 66,276 shares of the biopharmaceutical company’s stock worth $63,000 after buying an additional 53,805 shares in the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.

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.