Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Price Breaks Above 50 Day Moving Average – Here’s What Happened

Shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $1.80 and traded as high as $1.9178. Lexicon Pharmaceuticals shares last traded at $1.82, with a volume of 2,560,531 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LXRX. Wall Street Zen upgraded Lexicon Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Sunday. Zacks Research cut shares of Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Citigroup lifted their price target on shares of Lexicon Pharmaceuticals from $3.10 to $3.40 and gave the stock a “buy” rating in a research note on Monday. Cantor Fitzgerald assumed coverage on Lexicon Pharmaceuticals in a research note on Monday, September 28th. They issued an “overweight” rating and a $8.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research report on Wednesday, October 21st. Three 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’s stock. According to MarketBeat.com, Lexicon Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $5.80.

Lexicon Pharmaceuticals Stock Performance

The firm has a market capitalization of $809.83 million, a PE ratio of -13.00 and a beta of 1.10. 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 firm has a 50-day moving average price of $1.80 and a 200 day moving average price of $1.89.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings data on Thursday, November 5th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.03. Lexicon Pharmaceuticals had a negative return on equity of 37.53% and a negative net margin of 147.38%. The company had revenue of $11.25 million for the quarter, compared to analyst estimates of $4.14 million. Research analysts expect that Lexicon Pharmaceuticals, Inc. will post -0.16 earnings per share for the current year.

Insider Activity at Lexicon Pharmaceuticals

In other Lexicon Pharmaceuticals news, CEO Michael Exton bought 30,064 shares of the company’s stock in a transaction that occurred on Friday, November 6th. The stock was purchased at an average cost of $1.66 per share, for a total transaction of $49,906.24. Following the completion of the purchase, the chief executive officer owned 328,496 shares of the company’s stock, valued at $545,303.36. This trade represents a 10.07% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 14.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of LXRX. Siren L.L.C. increased its position 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 worth $69,113,000 after acquiring an additional 5,384,615 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Lexicon Pharmaceuticals by 508.0% during the 1st 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 in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Lexicon Pharmaceuticals during the 2nd quarter valued at $1,365,000. ADAR1 Capital Management LLC purchased a new stake in Lexicon Pharmaceuticals during the 1st quarter worth $1,170,000. Finally, Bank of America Corp DE boosted its position in Lexicon Pharmaceuticals by 415.3% during the 1st quarter. Bank of America Corp DE now owns 526,103 shares of the biopharmaceutical company’s stock worth $821,000 after purchasing an additional 424,006 shares during the period. 74.70% of the stock is owned by institutional investors and hedge funds.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for serious and chronic diseases. The company uses its drug discovery platform to identify small-molecule treatments designed to target specific biological pathways, with an emphasis on metabolic, cardiovascular and neurological conditions.

Lexicon’s commercial products include INPEFA (sotagliflozin), an oral medicine approved in the United States to reduce the risk of cardiovascular death, hospitalization for heart failure and urgent heart-failure visits in certain adults with heart failure or type 2 diabetes and chronic kidney disease.