Lexicon Pharmaceuticals (NASDAQ:LXRX) Share Price Passes Above 200-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 traded.

Analyst Ratings Changes

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

Lexicon Pharmaceuticals Stock Down 3.3 %

The firm has a 50-day moving average of $2.83 and a 200 day moving average of $2.30. The stock has a market capitalization of $435.19 million, a price-to-earnings ratio of -3.62 and a beta of 1.43. The company has a current ratio of 3.85, a quick ratio of 3.85 and a debt-to-equity ratio of 0.33.

Insider Buying and Selling at Lexicon Pharmaceuticals

In other Lexicon Pharmaceuticals news, Director International S.C.A. Artal bought 16,173,800 shares of the business’s stock in a transaction on Monday, August 1st. The shares were bought at an average cost of $2.50 per share, with a total value of $40,434,500.00. Following the transaction, the director now directly owns 48,433,261 shares in the company, valued at approximately $121,083,152.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the company. LPL Financial LLC increased its holdings in shares of Lexicon Pharmaceuticals by 88.2% in the 2nd quarter. LPL Financial LLC now owns 20,700 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 9,700 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in Lexicon Pharmaceuticals by 72.1% during the 2nd quarter. Commonwealth Equity Services LLC now owns 24,576 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 10,300 shares during the last quarter. Teacher Retirement System of Texas bought a new position in Lexicon Pharmaceuticals during the 4th quarter worth $43,000. Equitable Holdings Inc. bought a new position in Lexicon Pharmaceuticals during the 4th quarter worth $45,000. Finally, Bank of Montreal Can bought a new position in Lexicon Pharmaceuticals during the 1st quarter worth $26,000.

About Lexicon Pharmaceuticals

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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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