Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Lexicon Pharmaceuticals shares crossed above their 200-day moving average, reaching $2.39 and closing at $2.34, compared with the $1.90 long-term average.
• Analyst sentiment remains mixed: Citigroup raised its price target to $3.10 with a Buy rating, while other firms issued Hold or Sell views. The consensus rating is Hold, with an average target price of $4.55.
• The company reported a quarterly loss of $0.06 per share, missing estimates by $0.01, while revenue of $0.69 million fell well short of the $3.99 million consensus forecast. Institutional investors own approximately 74.7% of the stock.

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Citigroup lifted their price target on shares of Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the company a "buy" rating in a research report 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. Zacks Research lowered Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 3rd. Finally, Wall Street Zen lowered Lexicon Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $4.55.

Lexicon Pharmaceuticals Price Performance

The company's 50-day moving average is $2.26 and its two-hundred day moving average is $1.90. 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 has a market cap of $1.04 billion, a P/E ratio of -15.60 and a beta of 1.08.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) 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). The firm had revenue of $0.69 million for the quarter, compared to analyst estimates of $3.99 million. Lexicon Pharmaceuticals had a negative return on equity of 37.53% and a negative net margin of 147.38%. Sell-side analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Trading of Lexicon Pharmaceuticals

Several large investors have recently made changes to their positions in the company. CTC Alternative Strategies Ltd. bought a new position in Lexicon Pharmaceuticals in the first quarter valued at approximately $27,000. Security National Bank of Sioux City Iowa IA bought a new stake in Lexicon Pharmaceuticals during the fourth quarter worth $31,000. Hudson Bay Capital Management LP bought a new stake in Lexicon Pharmaceuticals during the second quarter worth $26,000. Bank of New York Mellon Corp boosted its holdings in shares of Lexicon Pharmaceuticals by 43.6% in the 1st quarter. Bank of New York Mellon Corp now owns 27,459 shares of the biopharmaceutical company's stock valued at $43,000 after purchasing an additional 8,335 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in shares of Lexicon Pharmaceuticals in the 4th quarter valued at $34,000. Institutional investors and hedge funds 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.

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