Lexicon Pharmaceuticals (NASDAQ:LXRX) Price Target Raised to $2.30

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

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

Lexicon Pharmaceuticals Stock Performance

Shares of Lexicon Pharmaceuticals stock opened at $1.72 on Tuesday. The company has a fifty day simple moving average of $1.41 and a 200-day simple moving average of $1.34. Lexicon Pharmaceuticals has a 12-month low of $0.32 and a 12-month high of $1.83. The company has a current ratio of 4.88, a quick ratio of 4.87 and a debt-to-equity ratio of 0.46. The stock has a market cap of $728.73 million, a price-to-earnings ratio of -12.28 and a beta of 0.94.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last posted its quarterly earnings data 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 return on equity of 41.94% and a negative net margin of 101.08%.The business had revenue of $5.49 million during the quarter, compared to the consensus estimate of $3.14 million. On average, equities analysts forecast that Lexicon Pharmaceuticals will post -0.66 EPS for the current fiscal year.

Insider Activity at Lexicon Pharmaceuticals

In related news, Director Invus Global Management, Llc bought 1,538,462 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was bought at an average price of $1.30 per share, with a total value of $2,000,000.60. Following the transaction, the director owned 1,538,462 shares of the company’s stock, valued at approximately $2,000,000.60. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Raymond Debbane acquired 100,000 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were purchased at an average price of $1.47 per share, for a total transaction of $147,000.00. Following the purchase, the director directly owned 1,904,186 shares of the company’s stock, valued at $2,799,153.42. This represents a 5.54% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 1,790,462 shares of company stock worth $2,369,981 over the last 90 days. 13.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Hudson Bay Capital Management LP bought a new position in Lexicon Pharmaceuticals in the 2nd quarter worth about $26,000. Security National Bank of Sioux City Iowa IA bought a new stake in shares of Lexicon Pharmaceuticals in the 4th quarter worth $31,000. Leonteq Securities AG bought a new stake in Lexicon Pharmaceuticals in the fourth quarter worth about $34,000. EntryPoint Capital LLC acquired a new stake in Lexicon Pharmaceuticals during the fourth quarter valued at approximately $39,000. Finally, Virtu Financial LLC bought a new position in shares of Lexicon Pharmaceuticals in the fourth quarter valued at $42,000. 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.