Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Pass Above 200 Day Moving Average – Should You Sell?

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.69 and traded as high as $2.44. Lexicon Pharmaceuticals shares last traded at $2.37, with a volume of 4,745,119 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on LXRX shares. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Lexicon Pharmaceuticals in a report on Monday, March 23rd. Citigroup increased their price objective on shares of Lexicon Pharmaceuticals from $2.30 to $3.10 and gave the company a “buy” rating in a research report on Monday, May 11th. Zacks Research upgraded Lexicon Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Friday, July 3rd. Finally, Weiss Ratings downgraded Lexicon Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.55.

Lexicon Pharmaceuticals Stock Down 0.9%

The firm’s 50-day moving average price is $2.10 and its 200 day moving average price is $1.70. The company has a current ratio of 18.80, a quick ratio of 18.77 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $999.45 million, a price-to-earnings ratio of -32.14 and a beta of 1.05.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.00) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.04. The firm had revenue of $21.10 million for the quarter, compared to the consensus estimate of $9.79 million. Lexicon Pharmaceuticals had a negative return on equity of 18.64% and a negative net margin of 37.46%. On average, sell-side analysts forecast that Lexicon Pharmaceuticals, Inc. will post -0.17 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Siren L.L.C. grew its stake in shares of Lexicon Pharmaceuticals by 13.8% during the first quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company’s stock worth $69,113,000 after buying an additional 5,384,615 shares during the last quarter. UBS Group AG raised its stake in shares of Lexicon Pharmaceuticals by 752.1% during the fourth quarter. UBS Group AG now owns 3,007,237 shares of the biopharmaceutical company’s stock valued at $3,458,000 after acquiring an additional 2,654,315 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in Lexicon Pharmaceuticals during the 3rd quarter worth $3,240,000. Millennium Management LLC raised its position in Lexicon Pharmaceuticals by 133.1% during the 3rd quarter. Millennium Management LLC now owns 3,830,660 shares of the biopharmaceutical company’s stock worth $5,171,000 after purchasing an additional 2,187,396 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Lexicon Pharmaceuticals by 508.0% during the 1st quarter. Renaissance Technologies LLC now owns 1,600,500 shares of the biopharmaceutical company’s stock worth $2,497,000 after buying an additional 1,337,246 shares during the period. Institutional investors own 74.70% of the company’s stock.

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.