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

Key Points

• Lexicon Pharmaceuticals shares moved above their 200-day moving average, reaching $2.37 and closing near $2.34, versus a 200-day average of $1.94.
• Analyst sentiment is mixed: Citigroup raised its price target to $3.10 and maintained a Buy rating, while other firms issued Hold or Sell ratings. The consensus rating is Hold, with an average price target of $4.55.
• The company reported a quarterly loss of $0.06 per share and revenue of $0.69 million, missing estimates for both. Despite weak profitability, institutional investors and hedge funds own 74.7% of the stock.

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.94 and traded as high as $2.37. Lexicon Pharmaceuticals shares last traded at $2.34, with a volume of 1,820,948 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on LXRX shares. Citigroup boosted their price objective on 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 upgraded shares of Lexicon Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, July 23rd. Wall Street Zen downgraded shares of Lexicon Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Finally, Zacks Research lowered shares of 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 issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $4.55.

Lexicon Pharmaceuticals Stock Performance

The stock has a fifty day moving average of $2.31 and a 200-day moving average of $1.94. The firm has a market capitalization of $1.04 billion, a P/E ratio of -15.60 and a beta of 1.08. The company has a quick ratio of 13.29, a current ratio of 13.37 and a debt-to-equity ratio of 0.29.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $0.69 million during the quarter, compared to the consensus estimate of $3.99 million. Lexicon Pharmaceuticals had a negative net margin of 147.38% and a negative return on equity of 37.53%. On average, research analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.17 EPS for the current year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in LXRX. Siren L.L.C. grew its position in shares of Lexicon Pharmaceuticals by 13.8% in the 1st quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company's stock valued at $69,113,000 after acquiring an additional 5,384,615 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Lexicon Pharmaceuticals by 508.0% in the 1st quarter. Renaissance Technologies LLC now owns 1,600,500 shares of the biopharmaceutical company's stock valued at $2,497,000 after purchasing an additional 1,337,246 shares during the period. ADAR1 Capital Management LLC bought a new stake in shares of Lexicon Pharmaceuticals in the 1st quarter valued at about $1,170,000. UBS Group AG lifted its stake in Lexicon Pharmaceuticals by 752.1% in the 4th quarter. UBS Group AG now owns 3,007,237 shares of the biopharmaceutical company's stock valued at $3,458,000 after purchasing an additional 2,654,315 shares during the last quarter. Finally, Ishara Investments LP acquired a new stake in Lexicon Pharmaceuticals in the 4th quarter valued at about $1,012,000. 74.70% of the stock is currently owned by institutional investors and hedge funds.

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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