Citi Raises Lexicon Pharmaceuticals (LXRX) Outlook on Strength of Novo Nordisk Partnership Milestones

Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) is one of the best fast growing penny stocks to buy according to analysts. On January 14, Citi analyst Yigal Nochomovitz increased the price target for Lexicon to $2.10 from $1.90 while maintaining a Buy rating. This upward revision resulted from an updated financial model that accounted for upcoming milestones under the LX9851 partnership with Novo Nordisk.

In Q3 2025, Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) reported revenue of $14.2 million, which was driven by $13.2 million in licensing revenue from its partnership with Novo Nordisk. The company’s net loss narrowed to $12.8 million, or $0.04 per share, compared to $64.8 million in the previous year.

The company achieved several key R&D milestones, including the completion of all IND-enabling studies for its obesity candidate, LX9851, which were submitted to Novo Nordisk for clinical development. Lexicon is also advancing its heart failure medication, INPEFA, into international markets via licensee Viatris and submitted additional data to the FDA to support the benefit-risk profile for Zynquista in type 1 diabetes

Lexicon Pharmaceuticals Inc. (NASDAQ:LXRX) is a biopharmaceutical company that discovers, develops, and commercializes pharmaceutical products for the treatment of human disease.

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Disclosure: None. This article is originally published at Insider Monkey.