Needham & Company Reiterates a 'Buy' on Lexicon Pharmaceuticals (LXRX); Conference Call Takeaways

Needham & Company reiterates a 'Buy' on Lexicon Pharmaceuticals (NASDAQ: LXRX) price target of $3.00.

Analyst, Alan Carr, said, "Lexicon management provided a quarterly update in a conference call yesterday. The company reported positive top-line results from its Phase 2b trial of LX4211 in type 2 diabetes in June 2012 and is now seeking a partner. Data available thus far suggest that the drug is well-differentiated...Upcoming news flow, including results from multiple proof-of-concept Phase 2 trials expected in 3Q12, may provide upside for the stock over the next few months."

For an analyst ratings summary and ratings history on Lexicon Pharmaceuticals click here. For more ratings news on Lexicon Pharmaceuticals click here.

Shares of Lexicon Pharmaceuticals closed at $2.42 yesterday.

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