Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Passes Above 200 Day Moving Average – Here’s Why

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.90 and traded as high as $2.39. Lexicon Pharmaceuticals shares last traded at $2.34, with a volume of 3,530,393 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on LXRX shares. Wall Street Zen downgraded shares of Lexicon Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Citigroup boosted their price objective on shares of Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the stock a “buy” rating in a research note on Monday, May 11th. Weiss Ratings raised Lexicon Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, July 23rd. Finally, Zacks Research downgraded Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.55.

Lexicon Pharmaceuticals Trading Up 1.4%

The company has a debt-to-equity ratio of 0.29, a current ratio of 13.37 and a quick ratio of 13.29. The firm’s fifty day moving average is $2.27 and its 200-day moving average is $1.90. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -16.37 and a beta of 1.08.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). Lexicon Pharmaceuticals had a negative net margin of 147.38% and a negative return on equity of 37.53%. The business had revenue of $0.69 million during the quarter, compared to analyst estimates of $3.99 million. Equities analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.17 earnings per share for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in LXRX. Bank of America Corp DE boosted its holdings in Lexicon Pharmaceuticals by 27.4% in 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. grew its position in Lexicon Pharmaceuticals by 173.5% in the 1st quarter. Invesco Ltd. now owns 285,759 shares of the biopharmaceutical company’s stock worth $132,000 after purchasing an additional 181,265 shares in the last quarter. AQR Capital Management LLC bought a new stake in Lexicon Pharmaceuticals during the first quarter worth $541,000. Acadian Asset Management LLC bought a new stake in shares of Lexicon Pharmaceuticals during the 1st quarter worth $263,000. Finally, XTX Topco Ltd boosted its stake in Lexicon Pharmaceuticals by 431.4% in the second quarter. XTX Topco Ltd now owns 66,276 shares of the biopharmaceutical company’s stock valued at $63,000 after acquiring an additional 53,805 shares during the last quarter. 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.