Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Passes Above 200-Day Moving Average – Should You Sell?

Shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.20 and traded as high as $1.2399. Lexicon Pharmaceuticals shares last traded at $1.21, with a volume of 1,775,306 shares.

Analyst Ratings Changes

Several brokerages have commented on LXRX. Wall Street Zen lowered shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. HC Wainwright reissued a “buy” rating and issued a $4.00 price target on shares of Lexicon Pharmaceuticals in a research note on Tuesday, September 2nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Lexicon Pharmaceuticals currently has a consensus rating of “Hold” and a consensus price target of $3.23.

Lexicon Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 5.63 and a current ratio of 5.64. The business’s 50-day moving average is $1.37 and its 200-day moving average is $1.20. The company has a market capitalization of $448.80 million, a PE ratio of -6.50 and a beta of 0.96.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its earnings results on Thursday, November 6th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. Lexicon Pharmaceuticals had a negative net margin of 96.77% and a negative return on equity of 52.90%. The business had revenue of $14.18 million during the quarter, compared to the consensus estimate of $5.81 million. On average, research analysts anticipate that Lexicon Pharmaceuticals, Inc. will post -0.66 earnings per share for the current year.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in LXRX. CIBC Bancorp USA Inc. purchased a new position in Lexicon Pharmaceuticals in the third quarter worth about $3,240,000. Millennium Management LLC raised its holdings in Lexicon Pharmaceuticals by 133.1% in the 3rd quarter. Millennium Management LLC now owns 3,830,660 shares of the biopharmaceutical company’s stock worth $5,171,000 after acquiring an additional 2,187,396 shares during the last quarter. AQR Capital Management LLC bought a new position in Lexicon Pharmaceuticals in the 1st quarter valued at approximately $541,000. Jacobs Levy Equity Management Inc. purchased a new stake in Lexicon Pharmaceuticals during the 3rd quarter valued at $935,000. Finally, Vanguard Group Inc. boosted its stake in Lexicon Pharmaceuticals by 7.6% during the 3rd quarter. Vanguard Group Inc. now owns 9,521,874 shares of the biopharmaceutical company’s stock valued at $12,855,000 after purchasing an additional 670,838 shares during the last quarter. 74.70% of the stock is owned by 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.