Needham & Company Maintains a 'Buy' on Lexicon Pharmaceuticals (LXRX); Underappreciated Given Number of Phase 2 Compounds Under Development
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Price: $2.30 +5.50%
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Needham & Company maintains a 'Buy' on Lexicon Pharmaceuticals (NASDAQ: LXRX).
Needham analyst says, "Lexicon reported progress with several programs over the course of 3Q11, including encouraging results from a Phase 2 trial of LX1032 in carcinoid syndrome and LX1033 in IBS-D. We believe the stock is underappreciated given the number of Phase 2 compounds under development and encouraging safety/efficacy profiles observed to date."
"Positive results from a Phase 2 trial of LX1032 in carcinoid syndrome were
announced in August 2011. Pending discussions with the FDA, the compound
may progress into Phase 3 in 2012. Lexicon also announced results from a Phase 1 trial of LX1033 in IBS-D in August 2011. We expect the compound, a back-up to LX-1033, to move into a Phase 2 trial around YE11."
For more ratings news on Lexicon Pharmaceuticals click here and for the rating history of Lexicon Pharmaceuticals click here.
Shares of Lexicon Pharmaceuticals closed at $1.10 yesterday.
Needham analyst says, "Lexicon reported progress with several programs over the course of 3Q11, including encouraging results from a Phase 2 trial of LX1032 in carcinoid syndrome and LX1033 in IBS-D. We believe the stock is underappreciated given the number of Phase 2 compounds under development and encouraging safety/efficacy profiles observed to date."
"Positive results from a Phase 2 trial of LX1032 in carcinoid syndrome were
announced in August 2011. Pending discussions with the FDA, the compound
may progress into Phase 3 in 2012. Lexicon also announced results from a Phase 1 trial of LX1033 in IBS-D in August 2011. We expect the compound, a back-up to LX-1033, to move into a Phase 2 trial around YE11."
For more ratings news on Lexicon Pharmaceuticals click here and for the rating history of Lexicon Pharmaceuticals click here.
Shares of Lexicon Pharmaceuticals closed at $1.10 yesterday.
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