Lexicon Pharmaceuticals (NASDAQ:LXRX) Shares Cross Above 50 Day Moving Average of $5.89

Shares of Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $5.89 and traded as high as $6.47. Lexicon Pharmaceuticals shares last traded at $6.33, with a volume of 6,216 shares changing hands.

A number of research firms have weighed in on LXRX. ValuEngine lowered Wolverine World Wide from a “hold” rating to a “sell” rating in a report on Monday, May 20th. Gabelli raised Lexicon Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Monday, March 25th. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a report on Wednesday, July 3rd. Needham & Company LLC lifted their target price on Alteryx to $108.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Finally, BidaskClub lowered Amyris from a “hold” rating to a “sell” rating in a report on Thursday, June 27th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $16.38.

The company has a market capitalization of $658.87 million, a price-to-earnings ratio of -5.45 and a beta of 0.84. The business’s fifty day moving average price is $5.90.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings data on Wednesday, May 1st. The biopharmaceutical company reported ($0.21) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.21). The business had revenue of $9.20 million for the quarter, compared to analysts’ expectations of $13.26 million. During the same period in the previous year, the firm posted ($0.40) EPS. The firm’s revenue for the quarter was down 63.8% compared to the same quarter last year. As a group, equities analysts predict that Lexicon Pharmaceuticals, Inc. will post -0.47 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of LXRX. Paloma Partners Management Co bought a new stake in Lexicon Pharmaceuticals in the fourth quarter valued at approximately $73,000. First Manhattan Co. bought a new stake in Lexicon Pharmaceuticals in the first quarter valued at approximately $15,282,000. Geode Capital Management LLC lifted its position in Lexicon Pharmaceuticals by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 565,085 shares of the biopharmaceutical company’s stock valued at $3,752,000 after purchasing an additional 13,664 shares during the last quarter. Clearbridge Investments LLC lifted its position in Lexicon Pharmaceuticals by 3.4% in the first quarter. Clearbridge Investments LLC now owns 1,292,130 shares of the biopharmaceutical company’s stock valued at $7,184,000 after purchasing an additional 42,540 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in Lexicon Pharmaceuticals by 10.0% in the first quarter. Gamco Investors INC. ET AL now owns 22,000 shares of the biopharmaceutical company’s stock valued at $122,000 after purchasing an additional 2,000 shares during the last quarter. 98.29% of the stock is owned by institutional investors.

Lexicon Pharmaceuticals Company Profile (NASDAQ:LXRX)

Lexicon Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of pharmaceutical products. The company offers XERMELO, an orally-delivered small molecule drug candidate for the treatment of carcinoid syndrome diarrhea in combination with somatostatin analog therapy in adults.

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