Stock Update (NASDAQ:LXRX): Lexicon Pharmaceuticals, Inc. Announces Sotagliflozin Data to be Presented at European Association for the Study of Diabetes


LXRXLexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) announced that data from its Phase 2 clinical study of sotagliflozin in type 1 diabetes will be presented in oral and poster presentations at the European Association for the Study of Diabetes, which will be held September 14–18 in Stockholm, Sweden.

Currently in Phase 3 clinical development for the treatment of type 1 diabetes, sotagliflozin is the first investigational therapy to target both SGLT1 and SGLT2, key proteins that transport glucose in the body.

The oral presentation, entitled “Sotagliflozin, a dual SGLT1 and SGLT2 inhibitor, improves glycaemic control in type 1 diabetes mellitus in a randomised, placebo-controlled, double-blind study,” will be presented at 3:45 p.m., September 17, by John B. Buse, M.D., Ph.D., Professor of Medicine and Chief of the Division of Endocrinology at the University of North Carolina, Chapel Hill.

The poster, entitled “Sotagliflozin, a dual SGLT1 and SGLT2 inhibitor, reduces glucose variability in type 1 diabetes mellitus in a randomised, placebo-controlled, double-blind study,” will be presented at 2:15 p.m., September 17, by Paul Strumph, M.D., Lexicon’s Vice President of Clinical Development and the development lead for sotagliflozin. (Original Source)

Shares of Lexicon Pharmaceuticals closed last Friday at $12.21. LXRX has a 1-year high of $13.88 and a 1-year low of $5.60. The stock’s 50-day moving average is $10.91 and its 200-day moving average is $8.33.

On the ratings front, Lexicon has been the subject of a number of recent research reports. In a report issued on August 13, Wedbush analyst Liana Moussatos maintained a Buy rating on LXRX, with a price target of $19, which represents a potential upside of 55.6% from where the stock is currently trading. Separately, on August 10, J.P. Morgan’s Jessica Fye downgraded the stock to Hold and has a price target of $14.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Liana Moussatos and Jessica Fye have a total average return of 17.0% and -24.9% respectively. Moussatos has a success rate of 36.5% and is ranked #134 out of 3747 analysts, while Fye has a success rate of 0.0% and is ranked #3580.

Lexicon Pharmaceuticals Inc operates as a biopharmaceutical company engaged in discovery and development of breakthrough treatments for human disease.