Lexicon Pharmaceuticals (NASDAQ:LXRX) Price Target Raised to $1.90 at Citigroup

Key Points

• Citigroup raised its price target for Lexicon Pharmaceuticals from $1.20 to $1.90, suggesting a potential upside of 69.64% from the stock's previous close.
• The company's stock currently has a consensus rating of "Hold" with an average target price of $3.23, reflecting mixed sentiments from analysts.
• Lexicon Pharmaceuticals reported a loss of $0.07 EPS for the last quarter, which was better than analysts' expectations, alongside revenue of $1.26 million.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) had its price target raised by investment analysts at Citigroup from $1.20 to $1.90 in a report released on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the biopharmaceutical company's stock. Citigroup's price target indicates a potential upside of 69.64% from the stock's previous close.

LXRX has been the topic of a number of other research reports. HC Wainwright restated a "buy" rating and set a $4.00 price target on shares of Lexicon Pharmaceuticals in a report on Tuesday, June 24th. Wall Street Zen initiated coverage on shares of Lexicon Pharmaceuticals in a report on Monday, April 21st. They set a "sell" rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $3.23.

Lexicon Pharmaceuticals Trading Down 2.6%

NASDAQ LXRX traded down $0.03 on Thursday, hitting $1.12. 3,470,001 shares of the company were exchanged, compared to its average volume of 9,022,464. The company's 50 day moving average price is $0.93 and its 200-day moving average price is $0.71. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.22 and a quick ratio of 2.22. The firm has a market capitalization of $404.87 million, a P/E ratio of -2.20 and a beta of 1.17. Lexicon Pharmaceuticals has a twelve month low of $0.28 and a twelve month high of $2.18.

Lexicon Pharmaceuticals (NASDAQ:LXRX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The biopharmaceutical company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.10) by $0.03. Lexicon Pharmaceuticals had a negative return on equity of 103.16% and a negative net margin of 568.04%. The firm had revenue of $1.26 million during the quarter, compared to analyst estimates of $1.26 million. Analysts predict that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Institutional investors have recently bought and sold shares of the business. R Squared Ltd bought a new position in Lexicon Pharmaceuticals in the 2nd quarter valued at $28,000. Bayesian Capital Management LP bought a new stake in shares of Lexicon Pharmaceuticals during the fourth quarter worth $31,000. Renaissance Technologies LLC bought a new stake in shares of Lexicon Pharmaceuticals during the fourth quarter worth $38,000. Straight Path Wealth Management bought a new stake in shares of Lexicon Pharmaceuticals during the first quarter worth $29,000. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Lexicon Pharmaceuticals by 77.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 65,330 shares of the biopharmaceutical company's stock worth $62,000 after acquiring an additional 28,594 shares during the last quarter. Institutional investors own 74.70% of the company's stock.

About Lexicon Pharmaceuticals

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 and LX2761, which is in Phase I clinical development for gastrointestinal tract.

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