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

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-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 Ratings Changes

Several research analysts recently weighed in on LXRX shares. HC Wainwright restated a “buy” rating and issued a $6.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Monday, March 23rd. Zacks Research upgraded Lexicon Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 3rd. Weiss Ratings cut Lexicon Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, July 8th. Finally, Citigroup boosted their target price on Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the stock a “buy” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.55.

Lexicon Pharmaceuticals Trading Up 5.6%

The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -33.64 and a beta of 1.05. 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 business’s 50-day simple moving average is $2.16 and its 200-day simple moving average is $1.74.

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

Institutional Trading of Lexicon Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of America Corp DE lifted its stake in shares of Lexicon Pharmaceuticals by 27.4% in the 4th quarter. Bank of America Corp DE now owns 136,407 shares of the biopharmaceutical company’s stock valued at $101,000 after purchasing an additional 29,319 shares during the period. Invesco Ltd. grew its stake in shares of Lexicon Pharmaceuticals by 173.5% during the first quarter. Invesco Ltd. now owns 285,759 shares of the biopharmaceutical company’s stock worth $132,000 after purchasing an additional 181,265 shares during the period. AQR Capital Management LLC bought a new stake in Lexicon Pharmaceuticals in the first quarter valued at about $541,000. Acadian Asset Management LLC bought a new stake in Lexicon Pharmaceuticals in the first quarter valued at about $263,000. Finally, XTX Topco Ltd increased its holdings 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 purchasing an additional 53,805 shares during the last quarter. 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.