Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Gets Price Target Boost from Citigroup

Key Points

• Citigroup raised its price target on Lexicon Pharmaceuticals to $3.40 from $3.10 and maintained a Buy rating, implying 84.28% upside from the stock’s then-current price.
• Analyst views remain mixed: MarketBeat reported a consensus Hold rating and $5.80 average price target, with three Buy, one Hold, and one Sell rating.
• Lexicon beat quarterly estimates, reporting a loss of $0.03 per share versus the expected $0.06 loss and revenue of $11.25 million versus $4.14 million expected; CEO Michael Exton also bought 30,064 shares.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) had its target price raised by Citigroup from $3.10 to $3.40 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the biopharmaceutical company's stock. Citigroup's target price would indicate a potential upside of 84.28% from the stock's current price.

A number of other equities research analysts have also commented on LXRX. Zacks Research lowered shares of Lexicon Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 3rd. Weiss Ratings reissued a "sell (d-)" rating on shares of Lexicon Pharmaceuticals in a research note on Wednesday, October 21st. Cantor Fitzgerald assumed coverage on shares of Lexicon Pharmaceuticals in a report on Monday, September 28th. They issued an "overweight" rating and a $8.00 target price on the stock. Finally, Wall Street Zen upgraded shares of Lexicon Pharmaceuticals from a "strong sell" rating to a "hold" rating in a report on Sunday. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $5.80.

Lexicon Pharmaceuticals Trading Up 3.7%

Shares of LXRX traded up $0.07 during mid-day trading on Monday, reaching $1.84. 1,419,285 shares of the company were exchanged, compared to its average volume of 2,883,508. Lexicon Pharmaceuticals has a 52 week low of $1.10 and a 52 week high of $2.68. The company has a debt-to-equity ratio of 0.32, a quick ratio of 10.56 and a current ratio of 10.62. The stock has a market capitalization of $820.94 million, a PE ratio of -13.18 and a beta of 1.10. The business has a 50 day simple moving average of $1.81 and a two-hundred day simple moving average of $1.89.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The biopharmaceutical company reported ($0.03) EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.03. The company had revenue of $11.25 million for the quarter, compared to analyst estimates of $4.14 million. Lexicon Pharmaceuticals had a negative return on equity of 35.76% and a negative net margin of 161.80%. On average, analysts predict that Lexicon Pharmaceuticals will post -0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Lexicon Pharmaceuticals

In related news, CEO Michael Exton acquired 30,064 shares of the stock in a transaction dated Friday, November 6th. The stock was bought at an average price of $1.66 per share, for a total transaction of $49,906.24. Following the purchase, the chief executive officer directly owned 328,496 shares of the company's stock, valued at $545,303.36. The trade was a 10.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of large investors have recently bought and sold shares of LXRX. Squarepoint Ops LLC bought a new stake in Lexicon Pharmaceuticals in the 2nd quarter valued at about $28,000. CTC Alternative Strategies Ltd. bought a new position in Lexicon Pharmaceuticals in the first quarter worth approximately $27,000. Pictet Asset Management Holding SA bought a new position in Lexicon Pharmaceuticals in the third quarter worth approximately $41,000. Bank of New York Mellon Corp grew its stake in Lexicon Pharmaceuticals by 43.6% in the first quarter. Bank of New York Mellon Corp now owns 27,459 shares of the biopharmaceutical company's stock valued at $43,000 after acquiring an additional 8,335 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Lexicon Pharmaceuticals in the third quarter valued at approximately $66,000. 74.70% of the stock is currently owned by institutional investors and hedge funds.

About Lexicon Pharmaceuticals

Lexicon Pharmaceuticals, Inc is a biopharmaceutical company focused on discovering, developing and commercializing medicines for serious and chronic diseases. The company uses its drug discovery platform to identify small-molecule treatments designed to target specific biological pathways, with an emphasis on metabolic, cardiovascular and neurological conditions.

Lexicon's commercial products include INPEFA (sotagliflozin), an oral medicine approved in the United States to reduce the risk of cardiovascular death, hospitalization for heart failure and urgent heart-failure visits in certain adults with heart failure or type 2 diabetes and chronic kidney disease.

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