Lexicon Pharma (LXRX): PDUFA Date Extension A Speedbump, First Pass Approval Still Likely - Wedbush

Wedbush analyst, Liana Moussatos, reiterated her Outperform rating on shares of Lexicon Pharmaceuticals (NASDAQ: LXRX). The analyst believes the three month PDUFA date delay for telotristat etiprate in carcinoid syndrome is minor and no announcement of an advisory committee meeting is a positive signal for the approval chances of the drug. Given the robustness of the data package, the analyst continues to expect first pass approval.

No change to the price target of $33.

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 $18.83 yesterday.

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