Citi Raises its Price Target on Lexicon Pharmaceuticals (LXRX)

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) is one of the 10 Best Penny Stocks to Buy for Long Term.

On May 11, 2026, Citi raised the firm’s price target on Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) to $3.10 from $2.30 and maintained a Buy rating following the company’s Q1 2026 earnings report.

On May 7, 2026, Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) reported Q1 EPS of 0c, versus the consensus estimate of (4c). Revenue came in at $21.1M, well above the consensus estimate of $9.78M, driven primarily by a $20M development milestone payment from Novo Nordisk and $1.1M in net sales from Inpefa. CEO Mike Exton said the company has remained focused on advancing both its late-stage and early-stage cardiometabolic pipeline and believes it is now positioned to deliver several important regulatory and development milestones.

Earlier in May, Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) also announced a new loan agreement with Hercules Capital that provides up to $100M in borrowing capacity. The financing is intended to improve the company’s financial flexibility and support upcoming regulatory and commercial milestones without shareholder dilution. Under the agreement, Lexicon received an initial $55M tranche at closing, which was used to repay its prior loan facility with Oxford Finance. Additional tranches totaling $45M may become available based on certain clinical, regulatory, and financial milestones, along with lender approval requirements.

Citi Raises its Price Target on Lexicon Pharmaceuticals (LXRX)

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) is a biopharmaceutical company focused on developing and commercializing therapies for human disease.

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