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Lexicon Pharmaceuticals (NASDAQ:LXRX) reported quarterly losses of $(0.07) per share which missed the analyst consensus estimate of $(0.05) by 40 percent. This is a 800 percent decrease over earnings of $0.01 per share
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Lexicon Pharmaceuticals stock surged nearly 6% after analyst Steve Seedhouse from Cantor Fitzgerald initiated coverage with an 'overweight' rating and $8 price target (over 4x the current $1.90 price). Seedhouse highlighted the company's progress on sotagliflozin, an FDA-approved heart failure drug being developed for hypertrophic cardiomyopathy, which works through a different mechanism than competing treatments.
Analysts initiate coverage: Buy on IonQ ($60), Jack Henry ($193) and 10X Genomics ($110); Overweight Lexicon ($8); In-Line Fortive ($60).
Cantor Fitzgerald analyst Steve Seedhouse initiates coverage on Lexicon Pharmaceuticals (NASDAQ:LXRX) with a Overweight rating and announces Price Target of $8.