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Taking a look at what insiders are doing to gauge the Lexicon Pharmaceuticals Inc (LXRX)’s direction

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Lexicon Pharmaceuticals Inc shares valued at $94,797 were purchased by COATS LONNEL on Nov 16 ’23. At $1.05 per share, COATS LONNEL acquired 90,000 shares. The insider’s holdings grew to 914,359 shares worth approximately $1.51 million following the completion of this transaction.

Also, COATS LONNEL purchased 10,000 shares, netting a total of over 10,100 in proceeds. Following the buying of shares at $1.01 each, the insider now holds 824,359 shares.

Before that, DEBBANE RAYMOND had added 148,820 shares to its account. In a trade valued at $153,805, the Director bought Lexicon Pharmaceuticals Inc shares for $1.03 each. Upon closing the transaction, the insider’s holdings increased to 148,820 shares, worth approximately $2.21 million.

As published in their initiating research note from Leerink Partners on April 30, 2024, Lexicon Pharmaceuticals Inc [LXRX] has been an Outperform and the price target has been revised to $5. Analysts at Jefferies started covering the stock with ‘”a Hold”‘ outlook in a report released in early March. As of August 12, 2022, Piper Sandler has initiated its “an Overweight” rating for LXRX. Earlier on January 29, 2021, JP Morgan upgraded its rating. Their new recommendation was “a Neutral” for LXRX stock which previously was a “an Underweight”.

Analyzing LXRX Stock Performance

During the last five days, there has been a surge of approximately 3.12%. Over the course of the year, Lexicon Pharmaceuticals Inc shares have jumped approximately 7.84%. Shares of the company reached a 52-week high of $3.7300 on 02/16/24 and a 52-week low of $1.2400 on 01/19/24. A 50-day SMA is recorded $2.1353, while a 200-day SMA reached $1.6791. Nevertheless, trading volume fell to 7.06 million shares from 3.57 million shares the previous day.

Support And Resistance Levels for Lexicon Pharmaceuticals Inc (LXRX)

According to the 24-hour chart, there is a support level at 1.5167, which, if violated, would cause prices to drop to 1.3833. In the upper region, resistance lies at 1.7767. The next price resistance is at 1.9033. RSI (Relative Strength Index) is 39.81 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0756, which suggests the price will decrease in the coming days. Percent R is at 69.60%, indicating low price movement. Stochastics %K at buying indicates that the stock is to be held.

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