Insider Buying: Lexicon Pharmaceuticals (NASDAQ:LXRX) Director Purchases $72,000.00 in Stock

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Director Raymond Debbane acquired 50,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was purchased at an average cost of $1.44 per share, with a total value of $72,000.00. Following the acquisition, the director directly owned 1,704,186 shares of the company’s stock, valued at $2,454,027.84. This trade represents a 3.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Raymond Debbane also recently made the following trade(s):

• On Monday, February 23rd, Raymond Debbane acquired 100,000 shares of Lexicon Pharmaceuticals stock. The shares were acquired at an average cost of $1.47 per share, with a total value of $147,000.00.
• On Friday, February 20th, Raymond Debbane bought 100,000 shares of Lexicon Pharmaceuticals stock. The stock was bought at an average price of $1.48 per share, with a total value of $148,000.00.

Lexicon Pharmaceuticals Stock Up 1.4%

Shares of NASDAQ:LXRX opened at $1.50 on Thursday. Lexicon Pharmaceuticals, Inc. has a 1 year low of $0.28 and a 1 year high of $1.83. The firm’s 50-day moving average is $1.31 and its two-hundred day moving average is $1.31. The firm has a market capitalization of $545.21 million, a PE ratio of -7.89 and a beta of 0.98. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.64 and a quick ratio of 5.63.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Security National Bank of Sioux City Iowa IA acquired a new position in shares of Lexicon Pharmaceuticals during the 4th quarter worth approximately $31,000. Hudson Bay Capital Management LP purchased a new position in Lexicon Pharmaceuticals in the second quarter valued at about $26,000. R Squared Ltd acquired a new position in shares of Lexicon Pharmaceuticals during the second quarter worth $28,000. Leonteq Securities AG purchased a new position in Lexicon Pharmaceuticals in the fourth quarter valued at about $34,000. Finally, Vermillion & White Wealth Management Group LLC increased its position in shares of Lexicon Pharmaceuticals by 400.0% in the 3rd quarter. Vermillion & White Wealth Management Group LLC now owns 32,500 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 26,000 shares during the last quarter. Institutional investors and hedge funds own 74.70% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wall Street Zen downgraded shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $3.23.

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.