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

Lexicon Pharmaceuticals (NASDAQ:LXRX) had its price target lifted by Citigroup from $2.30 to $3.10 in a report published on Monday,Benzinga reports. Citigroup currently has a buy rating on the biopharmaceutical company’s stock.

A number of other analysts also recently issued reports on the company. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Lexicon Pharmaceuticals in a research report on Monday, March 23rd. Weiss Ratings restated a “sell (d-)” rating on shares of Lexicon Pharmaceuticals in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Lexicon Pharmaceuticals has an average rating of “Hold” and an average target price of $4.55.

Lexicon Pharmaceuticals Stock Up 15.5%

Shares of LXRX opened at $2.31 on Monday. The company has a market cap of $1.03 billion, a PE ratio of -33.00 and a beta of 0.97. The business has a fifty day moving average of $1.68 and a 200 day moving average of $1.46. Lexicon Pharmaceuticals has a 52-week low of $0.51 and a 52-week high of $2.47. The company has a quick ratio of 18.77, a current ratio of 18.80 and a debt-to-equity ratio of 0.24.

Lexicon Pharmaceuticals (NASDAQ:LXRX) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported $0.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.04. The company had revenue of $21.10 million during the quarter, compared to the consensus estimate of $9.79 million. Lexicon Pharmaceuticals had a negative return on equity of 18.64% and a negative net margin of 37.46%. On average, sell-side analysts expect that Lexicon Pharmaceuticals will post -0.19 EPS for the current year.

Insider Buying and Selling at Lexicon Pharmaceuticals

In other Lexicon Pharmaceuticals news, Director Raymond Debbane bought 100,000 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was acquired at an average cost of $1.47 per share, for a total transaction of $147,000.00. Following the completion of the transaction, the director owned 1,904,186 shares in the company, valued at $2,799,153.42. This trade represents a 5.54% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 252,000 shares of company stock worth $369,980 in the last ninety days. 14.00% of the stock is currently owned by company insiders.

Institutional Trading of Lexicon Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in shares of Lexicon Pharmaceuticals by 43.6% during the first quarter. Bank of New York Mellon Corp now owns 27,459 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 8,335 shares during the last quarter. R Squared Ltd lifted its position in shares of Lexicon Pharmaceuticals by 45.3% during the fourth quarter. R Squared Ltd now owns 46,579 shares of the biopharmaceutical company’s stock worth $54,000 after purchasing an additional 14,530 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Lexicon Pharmaceuticals by 80.1% during the third quarter. Bank of America Corp DE now owns 57,804 shares of the biopharmaceutical company’s stock worth $78,000 after purchasing an additional 25,707 shares during the last quarter. Vermillion & White Wealth Management Group LLC lifted its position in shares of Lexicon Pharmaceuticals by 400.0% during the third quarter. Vermillion & White Wealth Management Group LLC now owns 32,500 shares of the biopharmaceutical company’s stock worth $44,000 after purchasing an additional 26,000 shares during the last quarter. Finally, Security National Bank of Sioux City Iowa IA bought a new stake in shares of Lexicon Pharmaceuticals during the fourth quarter worth $31,000. 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.