Dell falls as soft current quarter guide offsets Q2 beat, full-year outlook lift
Investing.com - Jefferies raised its price target on Lexicon Pharmaceuticals (NASDAQ:LXRX) stock to $0.85 from $0.70 while maintaining a Hold rating. The stock, currently trading at $1.16, has shown strong momentum with a 42% gain year-to-date, according to InvestingPro data.
The firm noted that Lexicon will meet with the FDA by early Q4 to discuss oral pilavapadin for diabetic peripheral neuropathy (DPN) pain, which represents a potential $1 billion-plus market opportunity.
Lexicon plans to start two pivotal studies for pilavapadin at the end of 2025 or early 2026, with data expected in 2027, according to Jefferies.
The company’s oral sotagliflozin Phase III data in non-obstructive hypertrophic cardiomyopathy and obstructive hypertrophic cardiomyopathy, another potential $1 billion-plus opportunity, remains on track for the first half of 2027.
Jefferies also highlighted that following a deal with Novo Nordisk (NYSE:NVO) for LX9851, Lexicon’s management continues to seek additional non-dilutive capital, potentially through a business development deal for pilavapadin, to strengthen its Q2 cash position of $168 million ($0.46 per share).
In other recent news, Lexicon Pharmaceuticals Inc. reported a surprising financial performance for the second quarter of 2025. The company announced earnings per share of $0.01, defying expectations of a $0.09 per share loss. This unexpected earnings beat was largely attributed to significant licensing revenue from Novo Nordisk. Lexicon’s total revenue reached $28.9 million, substantially surpassing the projected $6.49 million. These recent developments have captured the attention of investors and analysts alike. While the stock’s pre-market movement was notable, the focus remains on the company’s financial results. Analysts are likely to reassess their positions on Lexicon following this earnings announcement. The unexpected results may influence future projections and evaluations by firms covering the company.
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