Needham & Company Reiterates a 'Buy' on Lexicon Pharmaceuticals (LXRX); Q3 Review
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Price: $2.32 -0.85%
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
3 Buy, 8 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company reiterates a 'Buy' on Lexicon Pharmaceuticals (NASDAQ: LXRX) price target of $3.00.
Needham analyst says, "Lexicon management provided a corporate update in a quarterly conference call yesterday, highlighting additional encouraging data from the LX4211 program in type 2 diabetes and the LX1032 program in Carcinoid Syndrome...We believe the stock is undervalued at current $225M EV considering the breadth of the Phase 2 pipeline. Key upcoming events include results from the LX2931 proof-of-concept trial in rheumatoid arthritis in 1Q12 and, most importantly, results of the Phase 2b LX4211 trial in mid-2012. We are positively inclined based on prior LX4211 clinical data demonstrating a differentiated profile from SGLT2 inhibitors."
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 $1.08 yesterday.
Needham analyst says, "Lexicon management provided a corporate update in a quarterly conference call yesterday, highlighting additional encouraging data from the LX4211 program in type 2 diabetes and the LX1032 program in Carcinoid Syndrome...We believe the stock is undervalued at current $225M EV considering the breadth of the Phase 2 pipeline. Key upcoming events include results from the LX2931 proof-of-concept trial in rheumatoid arthritis in 1Q12 and, most importantly, results of the Phase 2b LX4211 trial in mid-2012. We are positively inclined based on prior LX4211 clinical data demonstrating a differentiated profile from SGLT2 inhibitors."
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 $1.08 yesterday.
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