Lexicon Pharmaceuticals (NASDAQ:LXRX) Price Target Raised to $3.40

Lexicon Pharmaceuticals (NASDAQ:LXRX) had its price target increased by Citigroup from $3.10 to $3.40 in a research note published on Monday morning,Benzinga reports. The firm currently has a buy rating on the biopharmaceutical company’s stock.

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

Lexicon Pharmaceuticals Trading Up 0.5%

NASDAQ:LXRX opened at $1.87 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 10.62 and a quick ratio of 10.56. Lexicon Pharmaceuticals has a 12-month low of $1.10 and a 12-month high of $2.68. The firm has a 50-day moving average price of $1.79 and a 200 day moving average price of $1.89.

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

Insider Buying and Selling

In other Lexicon Pharmaceuticals news, CEO Michael Exton acquired 30,064 shares of the business’s stock in a transaction dated Friday, November 6th. The shares were acquired at an average price of $1.66 per share, with a total value of $49,906.24. Following the completion of the transaction, the chief executive officer directly owned 328,496 shares in the company, valued at $545,303.36. This trade represents a 10.07% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 14.00% of the company’s stock.

Institutional Investors Weigh In On Lexicon Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in LXRX. Siren L.L.C. lifted its stake in Lexicon Pharmaceuticals by 13.8% in the first quarter. Siren L.L.C. now owns 44,303,518 shares of the biopharmaceutical company’s stock valued at $69,113,000 after acquiring an additional 5,384,615 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Lexicon Pharmaceuticals by 508.0% in the 1st quarter. Renaissance Technologies LLC now owns 1,600,500 shares of the biopharmaceutical company’s stock valued at $2,497,000 after purchasing an additional 1,337,246 shares during the last quarter. ADAR1 Capital Management LLC bought a new position in Lexicon Pharmaceuticals during the first quarter worth about $1,170,000. Bank of New York Mellon Corp bought a new position in Lexicon Pharmaceuticals during the second quarter worth about $1,365,000. Finally, Bank of America Corp DE increased its position in Lexicon Pharmaceuticals by 415.3% during the first quarter. Bank of America Corp DE now owns 526,103 shares of the biopharmaceutical company’s stock worth $821,000 after buying an additional 424,006 shares during the last quarter. Institutional investors own 74.70% of the company’s stock.

Lexicon Pharmaceuticals Company Profile

Lexicon Pharmaceuticals is a biopharmaceutical company based in The Woodlands, Texas. Founded in 1995 as Lexicon Genetics, the company uses drug discovery and development research to create medicines for serious diseases, with a focus on areas of unmet medical need. Its commercial product, Inpefa (sotagliflozin), is approved in the United States to reduce the risk of cardiovascular death and worsening heart failure in adults with heart failure. Lexicon also develops investigational medicines, including candidates studied for neuropathic pain and other conditions.