Insider Buying: Lexicon Pharmaceuticals (NASDAQ:LXRX) Director Purchases 100,000 Shares of Stock

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) Director Raymond Debbane acquired 100,000 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was purchased at an average cost of $1.48 per share, with a total value of $148,000.00. Following the acquisition, the director directly owned 1,804,186 shares of the company’s stock, valued at $2,670,195.28. This trade represents a 5.87% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Raymond Debbane also recently made the following trade(s):

• On Thursday, February 19th, Raymond Debbane bought 50,000 shares of Lexicon Pharmaceuticals stock. The stock was purchased at an average cost of $1.44 per share, for a total transaction of $72,000.00.

Lexicon Pharmaceuticals Price Performance

NASDAQ LXRX opened at $1.53 on Monday. The company has a quick ratio of 5.63, a current ratio of 5.64 and a debt-to-equity ratio of 0.47. Lexicon Pharmaceuticals, Inc. has a 52 week low of $0.28 and a 52 week high of $1.83. The firm has a market capitalization of $557.56 million, a P/E ratio of -7.96 and a beta of 0.98. The company has a 50-day moving average price of $1.29 and a 200-day moving average price of $1.30.

Institutional Trading of Lexicon Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. UBS Group AG lifted its holdings in Lexicon Pharmaceuticals by 752.1% in 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. purchased a new position in shares of Lexicon Pharmaceuticals during the 3rd quarter worth $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 valued at $5,171,000 after buying an additional 2,187,396 shares during the period. Marshall Wace LLP acquired a new position in Lexicon Pharmaceuticals in the fourth quarter valued at about $1,452,000. Finally, AQR Capital Management LLC purchased a new position in Lexicon Pharmaceuticals during the first quarter worth about $541,000. 74.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on LXRX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a report on Thursday, January 22nd. Wall Street Zen lowered shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.23.

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.