Lexicon Pharmaceuticals (NASDAQ:LXRX) Share Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Lexicon Pharmaceuticals shares rose above their 200-day moving average, reaching $2.27 before closing at $2.24, compared with a 200-day average of $1.98.
• Analyst sentiment remains mixed, with two Buy ratings, one Hold and one Sell; the consensus rating is Hold, with an average price target of $4.55.
• The company missed quarterly expectations, reporting a $0.06-per-share loss versus a projected $0.05 loss and revenue of $0.69 million versus $3.99 million expected. Hedge funds and institutional investors own approximately 74.7% of the stock.

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report)'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.98 and traded as high as $2.27. Lexicon Pharmaceuticals shares last traded at $2.24, with a volume of 2,335,858 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Weiss Ratings raised Lexicon Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 23rd. Citigroup lifted their target price on Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the company a "buy" rating in a research note on Monday, May 11th. Wall Street Zen lowered Lexicon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Finally, Zacks Research cut Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $4.55.

Lexicon Pharmaceuticals Trading Up 2.3%

The company has a quick ratio of 13.29, a current ratio of 13.37 and a debt-to-equity ratio of 0.29. The company's fifty day moving average price is $2.33 and its two-hundred day moving average price is $1.98. The firm has a market cap of $996.70 million, a PE ratio of -14.93 and a beta of 1.02.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $0.69 million for the quarter, compared to analysts' expectations of $3.99 million. Lexicon Pharmaceuticals had a negative return on equity of 37.53% and a negative net margin of 147.38%. As a group, sell-side analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Siren L.L.C. boosted its stake in shares of Lexicon Pharmaceuticals by 13.8% in the first quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company's stock valued at $69,113,000 after buying an additional 5,384,615 shares in the last quarter. UBS Group AG raised its position in Lexicon Pharmaceuticals by 752.1% in the fourth quarter. UBS Group AG now owns 3,007,237 shares of the biopharmaceutical company's stock worth $3,458,000 after acquiring an additional 2,654,315 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in Lexicon Pharmaceuticals in the third quarter worth $3,240,000. Millennium Management LLC lifted its holdings in Lexicon Pharmaceuticals by 133.1% in the third quarter. Millennium Management LLC now owns 3,830,660 shares of the biopharmaceutical company's stock valued at $5,171,000 after acquiring an additional 2,187,396 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Lexicon Pharmaceuticals by 508.0% in the first quarter. Renaissance Technologies LLC now owns 1,600,500 shares of the biopharmaceutical company's stock valued at $2,497,000 after acquiring an additional 1,337,246 shares during the period. 74.70% of the stock is owned by hedge funds and other institutional investors.

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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