Lexicon Pharma (LXRX): Physician Feedback Increases Confidence - H.C. Wainwright
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H.C. Wainwright analyst, Shaunak Deepak, reiterated his Buy rating on shares of Lexicon Pharmaceuticals (NASDAQ: LXRX) after physician feedback leaves him more confident in telotristat prospects in Europe.
If telotristat is approved in Europe, the analyst believes that there could be considerable interest among physicians. At ESMO he attended an industry symposium on carcinoid syndrome treatment and a poster discussion session for the integrated telotristat Phase 3 safety data. During these events, he spoke with four European investigators involved in telotristat clinical trials.
Based on feedback, he is increasing peak European telotristat sales estimates from $180M to $310M in 2023.
No change to the price target of $26.
Shares of Lexicon Pharmaceuticals closed at $16.70 yesterday.
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