Lexicon Pharmaceuticals (NASDAQ:LXRX) Price Target Raised to $6.00

Lexicon Pharmaceuticals (NASDAQ:LXRX) had its price target raised by equities research analysts at HC Wainwright from $4.00 to $6.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 253.98% from the company’s previous close.

Several other research analysts have also issued reports on the stock. Wall Street Zen cut shares of Lexicon Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.63.

Lexicon Pharmaceuticals Stock Performance

Shares of NASDAQ LXRX traded up $0.07 during trading hours on Thursday, reaching $1.70. The stock had a trading volume of 2,612,658 shares, compared to its average volume of 2,939,603. The company has a market cap of $616.08 million, a price-to-earnings ratio of -8.92 and a beta of 0.94. Lexicon Pharmaceuticals has a twelve month low of $0.32 and a twelve month high of $1.83. The business’s fifty day moving average is $1.35 and its two-hundred day moving average is $1.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.64 and a quick ratio of 5.63.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last announced its quarterly earnings results on Thursday, March 5th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. Lexicon Pharmaceuticals had a negative net margin of 96.77% and a negative return on equity of 52.90%. The firm had revenue of $5.49 million for the quarter, compared to analyst estimates of $3.14 million. As a group, research analysts expect that Lexicon Pharmaceuticals will post -0.66 EPS for the current year.

Insider Buying and Selling at Lexicon Pharmaceuticals

In related news, Director Raymond Debbane purchased 100,000 shares of Lexicon Pharmaceuticals stock in a transaction dated Monday, February 23rd. The stock was bought at an average price of $1.47 per share, for a total transaction of $147,000.00. Following the completion of the acquisition, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Invus Global Management, Llc acquired 1,538,462 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was bought at an average cost of $1.30 per share, for a total transaction of $2,000,000.60. Following the completion of the transaction, the director directly owned 1,538,462 shares in the company, valued at $2,000,000.60. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 1,790,462 shares of company stock worth $2,369,981. Company insiders own 13.90% of the company’s stock.

Hedge Funds Weigh In On Lexicon Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Virtu Financial LLC bought a new stake in Lexicon Pharmaceuticals during the fourth quarter worth $42,000. Invesco Ltd. lifted its position in shares of Lexicon Pharmaceuticals by 14.1% in the fourth quarter. Invesco Ltd. now owns 594,883 shares of the biopharmaceutical company’s stock valued at $684,000 after buying an additional 73,480 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Lexicon Pharmaceuticals by 25.9% during the 4th quarter. Millennium Management LLC now owns 4,821,733 shares of the biopharmaceutical company’s stock worth $5,545,000 after acquiring an additional 991,073 shares during the period. Ishara Investments LP acquired a new position in shares of Lexicon Pharmaceuticals during the 4th quarter worth approximately $1,012,000. Finally, ExodusPoint Capital Management LP acquired a new position in Lexicon Pharmaceuticals in the 4th quarter valued at about $309,000. 74.70% of the stock is owned by institutional investors.

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.