Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Crosses Above 200 Day Moving Average – Here’s Why

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.29 and traded as high as $1.3850. Lexicon Pharmaceuticals shares last traded at $1.37, with a volume of 2,142,492 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LXRX. Weiss Ratings restated a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, January 22nd. Wall Street Zen lowered Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $3.23.

Lexicon Pharmaceuticals Stock Performance

The business has a fifty day moving average of $1.29 and a 200 day moving average of $1.29. The company has a market cap of $497.95 million, a P/E ratio of -7.21 and a beta of 0.98. The company has a quick ratio of 5.63, a current ratio of 5.64 and a debt-to-equity ratio of 0.47.

Insider Buying and Selling at Lexicon Pharmaceuticals

In related news, Director Invus Global Management, Llc purchased 1,538,462 shares of Lexicon Pharmaceuticals stock in a transaction that occurred on Monday, February 2nd. The shares were bought at an average price of $1.30 per share, for a total transaction of $2,000,000.60. Following the completion of the transaction, the director directly owned 1,538,462 shares of the company’s stock, valued at $2,000,000.60. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 13.90% of the company’s stock.

Institutional Trading of Lexicon Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its holdings in shares of Lexicon Pharmaceuticals by 27.4% during the 4th quarter. Bank of America Corp DE now owns 136,407 shares of the biopharmaceutical company’s stock worth $101,000 after acquiring an additional 29,319 shares during the period. Invesco Ltd. boosted its position in shares of Lexicon Pharmaceuticals by 173.5% during the first quarter. Invesco Ltd. now owns 285,759 shares of the biopharmaceutical company’s stock valued at $132,000 after purchasing an additional 181,265 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of Lexicon Pharmaceuticals during the first quarter valued at approximately $541,000. Acadian Asset Management LLC purchased a new stake in Lexicon Pharmaceuticals in the first quarter worth $263,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Lexicon Pharmaceuticals by 77.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 65,330 shares of the biopharmaceutical company’s stock worth $62,000 after purchasing an additional 28,594 shares in the last quarter. 74.70% of the stock is currently owned by hedge funds and other institutional investors.

About Lexicon Pharmaceuticals

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.