Citigroup Issues Positive Forecast for Lexicon Pharmaceuticals (NASDAQ:LXRX) Stock Price

Key Points

• Citigroup raised its price target on Lexicon Pharmaceuticals from $2.30 to $3.10 and kept a buy rating, implying about 31.6% upside from the stock’s current price.
• Lexicon’s latest quarterly results beat expectations, with EPS of $0.00 versus an expected loss of $0.04 and revenue of $21.1 million versus estimates of $9.79 million.
• The stock traded up to $2.36 on Monday, near its 12-month high of $2.44, while analysts overall still have a Hold consensus and an average target price of $4.55.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) had its price objective lifted by equities researchers at Citigroup from $2.30 to $3.10 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the biopharmaceutical company's stock. Citigroup's target price would suggest a potential upside of 31.63% from the stock's current price.

A number of other brokerages have also issued reports on LXRX. HC Wainwright reaffirmed a "buy" rating and set a $6.00 price objective on shares of Lexicon Pharmaceuticals in a report on Monday, March 23rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $4.55.

Lexicon Pharmaceuticals Price Performance

LXRX traded up $0.36 during trading on Monday, reaching $2.36. 6,243,491 shares of the company traded hands, compared to its average volume of 2,707,405. The company has a debt-to-equity ratio of 0.24, a quick ratio of 18.77 and a current ratio of 18.80. Lexicon Pharmaceuticals has a 12-month low of $0.51 and a 12-month high of $2.44. The firm has a fifty day simple moving average of $1.66 and a 200 day simple moving average of $1.45. The company has a market cap of $1.05 billion, a P/E ratio of -33.78 and a beta of 0.97.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported $0.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.04. Lexicon Pharmaceuticals had a negative net margin of 37.46% and a negative return on equity of 18.64%. The business had revenue of $21.10 million during the quarter, compared to analyst estimates of $9.79 million. On average, equities analysts forecast that Lexicon Pharmaceuticals will post -0.19 EPS for the current year.

Insider Activity at Lexicon Pharmaceuticals

In other news, Director Raymond Debbane bought 100,000 shares of the stock in a transaction dated Monday, February 23rd. The stock was purchased at an average cost of $1.47 per share, for a total transaction of $147,000.00. Following the transaction, the director owned 1,904,186 shares of the company's stock, valued at $2,799,153.42. The trade was a 5.54% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders purchased 252,000 shares of company stock worth $369,980. 14.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Lexicon Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its position 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 worth $43,000 after buying an additional 8,335 shares during the last quarter. R Squared Ltd lifted its position in Lexicon Pharmaceuticals by 45.3% in the fourth quarter. R Squared Ltd now owns 46,579 shares of the biopharmaceutical company's stock worth $54,000 after buying an additional 14,530 shares during the last quarter. Bank of America Corp DE lifted its position in Lexicon Pharmaceuticals by 80.1% in the third quarter. Bank of America Corp DE now owns 57,804 shares of the biopharmaceutical company's stock worth $78,000 after buying an additional 25,707 shares during the last quarter. Vermillion & White Wealth Management Group LLC lifted its position in Lexicon Pharmaceuticals by 400.0% in the third quarter. Vermillion & White Wealth Management Group LLC now owns 32,500 shares of the biopharmaceutical company's stock worth $44,000 after buying an additional 26,000 shares during the last quarter. Finally, Security National Bank of Sioux City Iowa IA bought a new stake in Lexicon Pharmaceuticals in the fourth quarter worth $31,000. 74.70% of the stock is currently owned by institutional investors.

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.

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