Lexicon Pharmaceuticals (NASDAQ:LXRX) Share Price Passes Above Two Hundred Day Moving Average of $2.30

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRXGet Rating)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.30 and traded as high as $2.58. Lexicon Pharmaceuticals shares last traded at $2.53, with a volume of 873,991 shares.

Analysts Set New Price Targets

A number of brokerages recently commented on LXRX. Citigroup lifted their price objective on Lexicon Pharmaceuticals from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, July 1st. Piper Sandler assumed coverage on Lexicon Pharmaceuticals in a report on Friday, August 12th. They set an “overweight” rating and a $10.00 target price on the stock.

Lexicon Pharmaceuticals Trading Up 2.4 %

The company has a fifty day simple moving average of $2.85 and a two-hundred day simple moving average of $2.30. The company has a quick ratio of 3.85, a current ratio of 3.85 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $464.57 million, a P/E ratio of -3.89 and a beta of 1.43.

Insiders Place Their Bets

In other news, Director International S.C.A. Artal purchased 16,173,800 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were bought at an average cost of $2.50 per share, for a total transaction of $40,434,500.00. Following the completion of the acquisition, the director now directly owns 48,433,261 shares in the company, valued at approximately $121,083,152.50. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 6.50% of the company’s stock.

Institutional Trading of Lexicon Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. LPL Financial LLC lifted its holdings in shares of Lexicon Pharmaceuticals by 88.2% in the second quarter. LPL Financial LLC now owns 20,700 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 9,700 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Lexicon Pharmaceuticals by 72.1% during the second quarter. Commonwealth Equity Services LLC now owns 24,576 shares of the biopharmaceutical company’s stock worth $45,000 after acquiring an additional 10,300 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Lexicon Pharmaceuticals during the fourth quarter worth about $43,000. Equitable Holdings Inc. bought a new stake in Lexicon Pharmaceuticals during the fourth quarter worth about $45,000. Finally, Bank of Montreal Can bought a new stake in Lexicon Pharmaceuticals during the first quarter worth about $26,000.

Lexicon Pharmaceuticals Company Profile

(Get Rating)

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of pharmaceutical products. Its orally-delivered small molecule drug candidates under development comprise Sotagliflozin that completed Phase III clinical trials for the for the treatment of heart failure and type 1 diabetes; and LX9211, which is in Phase II clinical development for the treatment of neuropathic pain.

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