Lexicon Pharmaceuticals (NASDAQ:LXRX) Given New $3.40 Price Target at Citigroup

Lexicon Pharmaceuticals (NASDAQ:LXRX) had its price objective raised by investment analysts at 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 price objective suggests a potential upside of 84.28% from the company’s previous close.

A number of other equities analysts also recently issued reports on the company. Cantor Fitzgerald assumed coverage on Lexicon Pharmaceuticals in a research note on Monday, September 28th. They set an “overweight” rating and a $8.00 price target for the company. Wall Street Zen raised Lexicon Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Sunday. Weiss Ratings restated a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a report on Wednesday, October 21st. Finally, Zacks Research cut Lexicon Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $5.80.

Lexicon Pharmaceuticals Stock Up 3.7%

Shares of Lexicon Pharmaceuticals stock traded up $0.07 during trading hours on Monday, reaching $1.84. The company’s stock had a trading volume of 1,419,285 shares, compared to its average volume of 2,883,508. Lexicon Pharmaceuticals has a one year low of $1.10 and a one year high of $2.68. The company has a market capitalization of $820.94 million, a P/E ratio of -13.18 and a beta of 1.10. The stock’s fifty day simple moving average is $1.81 and its two-hundred day simple moving average is $1.89. The company has a debt-to-equity ratio of 0.32, a quick ratio of 10.56 and a current ratio of 10.62.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings data on Thursday, November 5th. The biopharmaceutical company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. The firm had revenue of $11.25 million during the quarter, compared to analysts’ expectations of $4.14 million. Lexicon Pharmaceuticals had a negative net margin of 161.80% and a negative return on equity of 35.76%. On average, research analysts forecast that Lexicon Pharmaceuticals will post -0.16 earnings per share for the current year.

Insider Activity at Lexicon Pharmaceuticals

In other Lexicon Pharmaceuticals news, CEO Michael Exton bought 30,064 shares of the business’s stock in a transaction dated Friday, November 6th. The shares were purchased 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 approximately $545,303.36. This represents a 10.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 14.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Lexicon Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC bought a new stake in Lexicon Pharmaceuticals during the second quarter worth $28,000. CTC Alternative Strategies Ltd. bought a new position in Lexicon Pharmaceuticals in the 1st quarter valued at $27,000. Pictet Asset Management Holding SA purchased a new stake in shares of Lexicon Pharmaceuticals during the 3rd quarter valued at $41,000. Bank of New York Mellon Corp increased its position in shares of Lexicon Pharmaceuticals by 43.6% during the 1st quarter. Bank of New York Mellon Corp now owns 27,459 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 8,335 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Lexicon Pharmaceuticals during the 3rd quarter valued at $66,000. 74.70% of the stock is owned by hedge funds and other institutional investors.

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.