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Investing.com - Lexicon Pharmaceuticals (NASDAQ:LXRX) stock rose after H.C. Wainwright reiterated its Buy rating and $4.00 price target on the company. The target represents significant upside from the current price of $1.08, with analyst targets ranging from $0.85 to $6.00. According to InvestingPro data, the stock has surged 175% over the past six months.
The firm’s decision follows Lexicon’s September 8 announcement that it submitted additional data to the FDA regarding ZYNQUISTA™ (sotagliflozin) and its benefit-risk profile in type 1 diabetes (T1D).
The new submission includes results from three third-party funded, investigator-initiated studies designed to address previous FDA concerns about increased risk of diabetic ketoacidosis (DKA), which led to a complete response letter in December 2024.
Lexicon expects a Type D meeting with the FDA by the end of September, which could help establish regulatory alignment for ZYNQUISTA’s path forward and potentially lead to an NDA resubmission soon.
While Lexicon is no longer investing in ZYNQUISTA’s clinical development, H.C. Wainwright views this regulatory engagement as an important move for the company.
In other recent news, Lexicon Pharmaceuticals reported an unexpected earnings beat for Q2 2025. The company achieved earnings per share of $0.01, outperforming the anticipated loss of $0.09 per share. This positive outcome was attributed to substantial licensing revenue from Novo Nordisk, resulting in total revenue of $28.9 million, significantly surpassing the expected $6.49 million. Additionally, Lexicon has submitted new clinical data to the FDA for the potential approval of its diabetes drug, Zynquista. The data comes from studies evaluating sotagliflozin as an adjunct to insulin for adults with type 1 diabetes. In the realm of analyst activity, H.C. Wainwright reiterated its Buy rating with a $4.00 price target on Lexicon Pharmaceuticals, following a presentation at the European Society of Cardiology Congress. Meanwhile, Jefferies raised its price target for the company’s stock to $0.85 while maintaining a Hold rating. The firm highlighted an upcoming meeting with the FDA regarding oral pilavapadin for diabetic peripheral neuropathy pain, a market opportunity exceeding $1 billion.
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