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

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.65 and traded as high as $0.95. Lexicon Pharmaceuticals shares last traded at $0.88, with a volume of 3,515,871 shares traded.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wall Street Zen assumed coverage on shares of Lexicon Pharmaceuticals in a research note on Monday, April 21st. They issued a "sell" rating for the company. Piper Sandler reduced their target price on shares of Lexicon Pharmaceuticals from $10.00 to $6.00 and set an "overweight" rating for the company in a research note on Friday, March 7th. Finally, HC Wainwright reiterated a "buy" rating and issued a $4.00 target price on shares of Lexicon Pharmaceuticals in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $3.67.

Lexicon Pharmaceuticals Trading Down 0.6%

The firm's 50 day moving average is $0.71 and its 200 day moving average is $0.66. The company has a market cap of $328.96 million, a PE ratio of -1.78 and a beta of 1.13. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.22 and a quick ratio of 2.22.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.03. The company had revenue of $1.26 million during the quarter, compared to analysts' expectations of $1.26 million. Lexicon Pharmaceuticals had a negative net margin of 568.04% and a negative return on equity of 103.16%. On average, equities analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.66 earnings per share for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Arizona State Retirement System lifted its position in Lexicon Pharmaceuticals by 34.4% during the fourth quarter. Arizona State Retirement System now owns 62,976 shares of the biopharmaceutical company's stock valued at $47,000 after purchasing an additional 16,136 shares during the last quarter. Swiss National Bank lifted its position in Lexicon Pharmaceuticals by 34.4% during the fourth quarter. Swiss National Bank now owns 426,600 shares of the biopharmaceutical company's stock valued at $315,000 after purchasing an additional 109,100 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Lexicon Pharmaceuticals by 60.3% during the fourth quarter. Teacher Retirement System of Texas now owns 65,415 shares of the biopharmaceutical company's stock valued at $48,000 after purchasing an additional 24,615 shares during the last quarter. Virtu Financial LLC bought a new stake in Lexicon Pharmaceuticals during the fourth quarter valued at approximately $66,000. Finally, Wellington Management Group LLP lifted its position in Lexicon Pharmaceuticals by 2.1% during the fourth quarter. Wellington Management Group LLP now owns 747,996 shares of the biopharmaceutical company's stock valued at $552,000 after purchasing an additional 15,249 shares during the last quarter. Hedge funds and other institutional investors 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.