Sanofi Collaboration Drives Lexicon Pharma's (LXRX) 4Q Success; Wedbush Raises Price Target to $28
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Wedbush reiterated an Outperform rating on Lexicon Pharmaceuticals (NASDAQ: LXRX), and raised the price target to $28.00 (from $26.00), following the company's 4Q earnings report. Revenues of $127.2MM came in above consensus estimates of $0.3MM. The beat comes due to revenues recognized from the collaboration agreement with Sanofi.
Analyst Liana Moussatos commented, "Q4/2015 financial update: $521.4MM cash balance covers multiple regulatory and clinical catalysts. Lexicon reported Q4/2015 revenues of $127.2MM/$130.0MM--above consensus estimates of $0.3MM/$3.1MM due to revenues recognized from the collaboration agreement with Sanofi. Reported Q4/2015 GAAP EPS (loss) of $0.76/$(0.05) beat consensus estimates of $(0.38)/$(1.16). We have incorporated Q4 financials and updated our model based on guidance."
For an analyst ratings summary and ratings history on Lexicon Pharmaceuticals click here. For more ratings news on Lexicon Pharmaceuticals click here.
Shares of Lexicon Pharmaceuticals closed at $10.85 yesterday.
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