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

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.

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report) shares 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.

Analyst Ratings Changes

A number of brokerages have recently commented on LXRX. HC Wainwright reissued a "buy" rating and issued a $4.00 price target on shares of Lexicon Pharmaceuticals in a research report on Tuesday, June 24th. Citigroup boosted their price target on Lexicon Pharmaceuticals from $1.20 to $1.90 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $3.23.

Lexicon Pharmaceuticals Price Performance

The firm has a market capitalization of $432.44 million, a P/E ratio of -3.61 and a beta of 1.17. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.16 and a current ratio of 4.16. The firm has a 50-day moving average of $1.04 and a 200-day moving average of $0.74.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last released 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 business had revenue of $28.87 million for the quarter, compared to analysts' expectations of $4.87 million. Lexicon Pharmaceuticals had a negative return on equity of 83.63% and a negative net margin of 206.43%. As a group, analysts predict that Lexicon Pharmaceuticals, Inc. will post -0.66 EPS for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LXRX. Point72 Asset Management L.P. raised its stake in Lexicon Pharmaceuticals by 630.7% during the 4th quarter. Point72 Asset Management L.P. now owns 8,988,421 shares of the biopharmaceutical company's stock valued at $6,638,000 after buying an additional 7,758,371 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its stake in Lexicon Pharmaceuticals by 301.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 7,558,621 shares of the biopharmaceutical company's stock valued at $5,582,000 after buying an additional 5,676,021 shares during the last quarter. Nantahala Capital Management LLC raised its stake in Lexicon Pharmaceuticals by 186.6% during the 4th quarter. Nantahala Capital Management LLC now owns 6,604,150 shares of the biopharmaceutical company's stock valued at $4,877,000 after buying an additional 4,300,000 shares during the last quarter. Northern Trust Corp raised its stake in Lexicon Pharmaceuticals by 14.4% during the 4th quarter. Northern Trust Corp now owns 1,308,651 shares of the biopharmaceutical company's stock valued at $966,000 after buying an additional 164,620 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in Lexicon Pharmaceuticals during the 1st quarter valued at $541,000. 74.70% of the stock is owned by institutional investors.

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.