Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Cross Above 200-Day Moving Average - Here's What Happened

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.45 and traded as high as $1.66. Lexicon Pharmaceuticals shares last traded at $1.63, with a volume of 1,398,156 shares traded.

Analysts Set New Price Targets

LXRX has been the topic of several recent analyst reports. Citigroup increased their price target on shares of Lexicon Pharmaceuticals from $2.10 to $2.30 and gave the company a "buy" rating in a research note on Tuesday, March 10th. HC Wainwright reiterated a "buy" rating and issued a $6.00 price target on shares of Lexicon Pharmaceuticals in a research note on Monday, March 23rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Lexicon Pharmaceuticals in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $4.15.

Lexicon Pharmaceuticals Trading Up 1.2%

The company has a quick ratio of 4.87, a current ratio of 4.88 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average of $1.65 and a two-hundred day moving average of $1.45. The stock has a market capitalization of $690.60 million, a price-to-earnings ratio of -11.64 and a beta of 0.97.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last issued its quarterly earnings results on Thursday, March 5th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.03. The firm had revenue of $5.49 million during the quarter, compared to the consensus estimate of $3.14 million. Lexicon Pharmaceuticals had a negative return on equity of 41.94% and a negative net margin of 101.08%. On average, research analysts expect that Lexicon Pharmaceuticals, Inc. will post -0.19 EPS for the current year.

Insider Buying and Selling at Lexicon Pharmaceuticals

In related news, Director Invus Global Management, Llc bought 1,538,462 shares of the firm's stock in a transaction on 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 transaction, the director 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 purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Raymond Debbane bought 100,000 shares of the firm's stock in a transaction on Monday, February 23rd. The shares were bought at an average price of $1.47 per share, for a total transaction of $147,000.00. Following the completion of the transaction, the director directly owned 1,904,186 shares in the company, valued at approximately $2,799,153.42. This represents a 5.54% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 1,790,462 shares of company stock worth $2,369,981 over the last 90 days. Insiders own 14.00% of the company's stock.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Several institutional investors have recently made changes to their positions in LXRX. Hudson Bay Capital Management LP purchased a new position in shares of Lexicon Pharmaceuticals in the second quarter valued at $26,000. Security National Bank of Sioux City Iowa IA purchased a new position in shares of Lexicon Pharmaceuticals in the fourth quarter valued at $31,000. Leonteq Securities AG purchased a new position in shares of Lexicon Pharmaceuticals in the fourth quarter valued at $34,000. EntryPoint Capital LLC purchased a new position in shares of Lexicon Pharmaceuticals in the fourth quarter valued at $39,000. Finally, Virtu Financial LLC purchased a new position in shares of Lexicon Pharmaceuticals in the fourth quarter valued at $42,000. 74.70% of the stock is currently owned by hedge funds and other institutional investors.

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.

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