Lexicon Pharmaceuticals (LXRX) is Initiated by Citigroup to Buy, Price Target at $21

Lexicon Pharmaceuticals (LXRX) was Initiated by Citigroup to “Buy” and the brokerage firm has set the Price Target at $21. Citigroup advised their investors in a research report released on Aug 2, 2016.

On the company’s financial health, Lexicon Pharmaceuticals reported $-0.34 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $-0.30. The company had revenue of $12.50 million for the quarter, compared to analysts expectations of $11.11 million. The company’s revenue was up 594.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.04 EPS.

Lexicon Pharmaceuticals closed down -0.14 points or -0.85% at $16.32 with 4,42,681 shares getting traded on Friday. Post opening the session at $16.39, the shares hit an intraday low of $16.21 and an intraday high of $16.46 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Jun 8, 2016, James F Tessmer (VP, Finance & Accounting) sold 1,500 shares at $15.00 per share price.

Lexicon Pharmaceuticals Inc. (Lexicon) is a biopharmaceutical company. The Company is focused on the development of treatments for human disease. The Company is engaged in the development of two drug candidates: telotristat etiprate (LX1032) and sotagliflozin (LX4211). The Company’s telotristat etiprate is an orally delivered small molecule drug candidate as a treatment for carcinoid syndrome. It has completed two Phase II clinical trials and is conducting a single Phase III clinical trial of telotristat etiprate in carcinoid syndrome patients. The Company’s sotagliflozin is an orally delivered small molecule drug candidate as a treatment for type 1 and type 2 diabetes. The Company has completed two Phase II clinical trials of sotagliflozin in type 2 diabetes patients and an additional clinical trial of sotagliflozin in type 2 diabetes patients with renal impairment. It has also completed a Phase II clinical trial of sotagliflozin in type 1 diabetes patients.

Lexicon Pharmaceuticals

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