Wedbush Raise Lexicon Pharmaceuticals (LXRX) PT to $33 as Primary Endpoint Reached
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Wedbush analyst Liana Moussatos reiterated an Outperform rating and boosted her price target on Lexicon Pharmaceuticals (NASDAQ: LXRX) to $33.00 after sotagliflozin achieves its primary endpoint in first T1D phase III trial.
Moussatos commented, "With inTandem1 for Type 1 diabetes (T1D) largely a success on the efficacy and safety front, we look for similar results from the Ph2 JDRF and inTandem2 studies in Q4. We believe positive results from these trials could put LXRX on track for filing for regulatory approval of sotagliflozin in T1D alone if the FDA agrees to accept a T1D NDA for review in H1:17."
Shares of Lexicon Pharmaceuticals closed at $15.31 yesterday.
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