Lexicon Pharmaceuticals (NASDAQ:LXRX) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Lexicon Pharmaceuticals shares surpassed their 200-day moving average, trading as high as $1.51, with a last price of $1.44.
• Analysts have given varied opinions on the stock, with three Buy ratings, three Hold ratings, and one Sell rating; the consensus target price is $3.23.
• The company reported a positive earnings surprise of $0.09 in its last quarterly earnings, with revenue of $28.87 million beating estimates by a significant margin.

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.92 and traded as high as $1.51. Lexicon Pharmaceuticals shares last traded at $1.44, with a volume of 2,866,270 shares.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Citigroup lifted their price target on Lexicon Pharmaceuticals from $1.20 to $1.90 and gave the stock a "buy" rating in a research note on Thursday, August 7th. HC Wainwright reiterated a "buy" rating and issued a $4.00 price objective on shares of Lexicon Pharmaceuticals in a research report on Tuesday, September 2nd. Wall Street Zen upgraded shares of Lexicon Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Lexicon Pharmaceuticals in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Lexicon Pharmaceuticals currently has a consensus rating of "Hold" and an average target price of $3.23.

Lexicon Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 4.16 and a quick ratio of 4.16. The company's 50-day simple moving average is $1.21 and its 200-day simple moving average is $0.92. The company has a market cap of $523.30 million, a price-to-earnings ratio of -4.36 and a beta of 1.23.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.09. The company had revenue of $28.87 million during the quarter, compared to the consensus estimate of $4.87 million. Lexicon Pharmaceuticals had a negative net margin of 206.43% and a negative return on equity of 83.63%. On average, equities research analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.66 EPS for the current year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings 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 valued at $101,000 after purchasing an additional 29,319 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Lexicon Pharmaceuticals during the first quarter valued at $32,000. Straight Path Wealth Management acquired a new position in shares of Lexicon Pharmaceuticals during the first quarter valued at $29,000. Cerity Partners LLC increased its holdings in shares of Lexicon Pharmaceuticals by 76.5% during the first quarter. Cerity Partners LLC now owns 170,387 shares of the biopharmaceutical company's stock valued at $79,000 after purchasing an additional 73,875 shares during the period. Finally, CWM LLC increased its holdings in shares of Lexicon Pharmaceuticals by 9,228.4% during the first quarter. CWM LLC now owns 105,504 shares of the biopharmaceutical company's stock valued at $49,000 after purchasing an additional 104,373 shares during the period. 74.70% of the stock is currently owned by institutional investors.

About Lexicon Pharmaceuticals

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of pharmaceutical products. Its orally-delivered small molecule drug candidates under development comprise Sotagliflozin that completed Phase III clinical trials for the for the treatment of heart failure and type 1 diabetes; and LX9211, which is in Phase II clinical development for the treatment of neuropathic pain and LX2761, which is in Phase I clinical development for gastrointestinal tract.

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