Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Lexicon Pharmaceuticals (NASDAQ:LXRX) has surpassed its 200-day moving average, trading recently at $1.21 after hitting a high of $1.24 during the day.
• Analysts have mixed outlooks on LXRX, with a consensus "Hold" rating and target prices ranging from $1.90 to $4.00.
• In the latest quarter, Lexicon reported earnings of $0.01 per share, significantly beating expectations, alongside revenues of $28.87 million against a forecast of $4.87 million.

Shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.73 and traded as high as $1.24. Lexicon Pharmaceuticals shares last traded at $1.21, with a volume of 1,877,188 shares traded.

Analysts Set New Price Targets

Several analysts have commented on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $4.00 target price on shares of Lexicon Pharmaceuticals in a research note on Tuesday, June 24th. Citigroup lifted their target price on shares of Lexicon Pharmaceuticals from $1.20 to $1.90 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen initiated coverage on shares of Lexicon Pharmaceuticals in a research note on Monday, April 21st. They issued a "sell" rating for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $3.23.

Lexicon Pharmaceuticals Price Performance

The company's 50 day moving average price is $1.00 and its 200-day moving average price is $0.73. The company has a market capitalization of $439.71 million, a PE ratio of -3.67 and a beta of 1.17. The company has a current ratio of 4.16, a quick ratio of 4.16 and a debt-to-equity ratio of 0.43.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last announced 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. Lexicon Pharmaceuticals had a negative net margin of 206.43% and a negative return on equity of 83.63%. The company had revenue of $28.87 million during the quarter, compared to analysts' expectations of $4.87 million. On average, sell-side analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in LXRX. Cerity Partners LLC lifted its holdings in shares of Lexicon Pharmaceuticals by 328.7% during the 4th quarter. Cerity Partners LLC now owns 96,512 shares of the biopharmaceutical company's stock valued at $71,000 after acquiring an additional 74,000 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Lexicon Pharmaceuticals by 60.6% during the 4th quarter. Invesco Ltd. now owns 104,494 shares of the biopharmaceutical company's stock valued at $77,000 after acquiring an additional 39,420 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of Lexicon Pharmaceuticals during the 4th quarter valued at $38,000. Barclays PLC lifted its holdings in shares of Lexicon Pharmaceuticals by 25.5% during the 4th quarter. Barclays PLC now owns 243,316 shares of the biopharmaceutical company's stock valued at $180,000 after acquiring an additional 49,443 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Lexicon Pharmaceuticals by 117.0% during the 4th quarter. Stifel Financial Corp now owns 112,853 shares of the biopharmaceutical company's stock valued at $83,000 after acquiring an additional 60,856 shares in the last quarter. Institutional investors and hedge funds own 74.70% of the company's stock.

Lexicon Pharmaceuticals Company Profile

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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