H.C. Wainwright Starts Lexicon Pharmaceuticals (LXRX) at Buy
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H.C. Wainwright initiated coverage on Lexicon Pharmaceuticals (NASDAQ: LXRX) with a Buy rating and a price target of $26.
Analyst Shaunak Deepak said, "Strong partnerships, positive pivotal data, and over $400M in cash at 2Q, put Lexicon in an enviable position going into 2017, in our opinion. We would be buyers of LXRX going into the December readout of the second inTandem2 pivotal trial for sotagliflozin in type 1 diabetes and the February FDA approval decision for telotristatethyl for carcinoid syndrome."
Shares of Lexicon Pharmaceuticals closed at $18.50 yesterday.
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