Wedbush Reiterates Outperform On Lexicon Pharmaceuticals Following Upbeat Q4 Results


Wedbush’s healthcare analyst Liana Moussatos came out with a research note on Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX), after the company reported its fourth-quarter results and provided update on its pipeline. The analyst reiterated an Outperform rating with a $3 price target, representing a potential upside of 183% from where the stock is currently trading.

Moussatos wrote, “Lexicon reported Q4/2014 revenues of $21.5MM/$22.9MM–above consensus estimates of $12MM/$13.5MM. Reported Q4/2014 GAAP EPS (loss) of $(0.00)/$(0.19) beat consensus estimates of $(0.03)/$(0.20) due to the recognition of an upfront payment from Ipsen. The company ended 2014 with about $339.3MM in cash and we project runway into Q2:2017, which covers potentially transforming clinical catalysts including the Phase 3 top-line data release (Q3) and potential regulatory filing (Q1:16) for telotristat etiprate in carcinoid syndrome, as well as the Phase 2 (Q1:16) and Phase 3 (Q4:16) data releases for sotagliflozin in type 1 diabetes.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Liana Moussatos has a total average return of 57.0% and a 76.5% success rate. Moussatos has a -33.1% average return when recommending LXRX, and is ranked #3 out of 3505 analysts.

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