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

Lexicon Pharmaceuticals (NASDAQ:LXRX) had its target price raised by Citigroup from $2.10 to $2.30 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities analysts have also recently commented on the company. Wall Street Zen cut Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, November 15th. HC Wainwright boosted their price objective on Lexicon Pharmaceuticals from $4.00 to $6.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research note on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Lexicon Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $4.15.

Lexicon Pharmaceuticals Stock Performance

NASDAQ:LXRX opened at $1.66 on Tuesday. The firm’s 50-day moving average is $1.38 and its 200-day moving average is $1.34. The company has a market cap of $703.31 million, a price-to-earnings ratio of -11.86 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 4.87 and a current ratio of 4.88. Lexicon Pharmaceuticals has a 52-week low of $0.32 and a 52-week high of $1.83.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last released its earnings results on Thursday, March 5th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.03. Lexicon Pharmaceuticals had a negative net margin of 101.08% and a negative return on equity of 41.94%. The business had revenue of $5.49 million during the quarter, compared to analysts’ expectations of $3.14 million. Equities research analysts anticipate that Lexicon Pharmaceuticals will post -0.66 earnings per share for the current year.

Insider Activity

In related news, Director Raymond Debbane acquired 100,000 shares of the stock in a transaction dated Monday, February 23rd. The shares were bought at an average cost of $1.47 per share, for a total transaction of $147,000.00. Following the purchase, the director owned 1,904,186 shares in the company, valued at approximately $2,799,153.42. This trade represents a 5.54% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Invus Global Management, Llc acquired 1,538,462 shares of the stock in a transaction dated Monday, February 2nd. The stock was bought at an average price of $1.30 per share, for a total transaction of $2,000,000.60. Following the completion of the purchase, the director owned 1,538,462 shares in the company, valued at approximately $2,000,000.60. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 1,790,462 shares of company stock valued at $2,369,981 in the last three months. Company insiders own 13.90% of the company’s stock.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hudson Bay Capital Management LP acquired a new stake in Lexicon Pharmaceuticals in the 2nd quarter valued at $26,000. Security National Bank of Sioux City Iowa IA acquired a new position in Lexicon Pharmaceuticals during the fourth quarter worth $31,000. Leonteq Securities AG bought a new position in shares of Lexicon Pharmaceuticals during the fourth quarter valued at $34,000. EntryPoint Capital LLC bought a new position in shares of Lexicon Pharmaceuticals during the fourth quarter valued at $39,000. Finally, Virtu Financial LLC acquired a new stake in shares of Lexicon Pharmaceuticals in the 4th quarter valued at $42,000. Institutional investors own 74.70% of the company’s stock.

About Lexicon Pharmaceuticals

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.