Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Gap Up – Still a Buy?

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) shares gapped up before the market opened on Thursday . The stock had previously closed at $1.32, but opened at $1.42. Lexicon Pharmaceuticals shares last traded at $1.4340, with a volume of 855,327 shares.

Analyst Upgrades and Downgrades

Several brokerages recently commented on LXRX. Wall Street Zen cut shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, January 22nd. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $3.23.

Lexicon Pharmaceuticals Trading Up 11.0%

The company has a debt-to-equity ratio of 0.47, a quick ratio of 5.63 and a current ratio of 5.64. The firm has a fifty day moving average price of $1.28 and a 200 day moving average price of $1.30. The company has a market cap of $532.48 million, a price-to-earnings ratio of -7.71 and a beta of 0.98.

Insider Activity at Lexicon Pharmaceuticals

In other news, Director Invus Global Management, Llc acquired 1,538,462 shares of the stock in a transaction dated Monday, February 2nd. The shares were bought at an average cost of $1.30 per share, for a total transaction of $2,000,000.60. Following the purchase, the director directly owned 1,538,462 shares of the company’s stock, valued at approximately $2,000,000.60. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Several hedge funds have recently bought and sold shares of LXRX. UBS Group AG grew its holdings in Lexicon Pharmaceuticals by 752.1% during the fourth 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 period. CIBC Bancorp USA Inc. acquired a new stake in shares of Lexicon Pharmaceuticals in the third quarter valued at approximately $3,240,000. Millennium Management LLC boosted its stake in shares of Lexicon Pharmaceuticals by 133.1% during the 3rd quarter. Millennium Management LLC now owns 3,830,660 shares of the biopharmaceutical company’s stock worth $5,171,000 after acquiring an additional 2,187,396 shares during the period. Marshall Wace LLP bought a new position in shares of Lexicon Pharmaceuticals during the 4th quarter worth approximately $1,452,000. Finally, AQR Capital Management LLC acquired a new position in shares of Lexicon Pharmaceuticals during the 1st quarter worth approximately $541,000. 74.70% of the stock is currently owned by institutional investors and hedge funds.

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.