Joseph Pantginis, an analyst from H.C. Wainwright, maintained the Buy rating on Lexicon Pharmaceuticals (LXRX – Research Report). The associated price target remains the same with $4.00.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Joseph Pantginis has given his Buy rating due to a combination of factors surrounding Lexicon Pharmaceuticals’ ongoing clinical developments. The company is currently advancing its Phase 3 SONATA-HCM trial, which evaluates the dual SGLT2/SGLT1 inhibitor, sotagliflozin, in patients with hypertrophic cardiomyopathy (HCM). This trial is notable as it is the first to assess the impact of SGLT inhibition on cardiovascular outcomes in both obstructive and non-obstructive forms of HCM.
Lexicon’s sotagliflozin has already shown promise in previous studies, including the Phase 3 SCORED trial, where it significantly reduced cardiovascular risks in patients with left ventricular hypertrophy. The ongoing SONATA-HCM trial aims to further establish its efficacy by measuring improvements in quality of life and symptoms among patients. With global enrollment underway and the potential for a broad label submission if results are favorable, Pantginis sees sotagliflozin as a promising addition to current treatment options, justifying the Buy rating.
Pantginis covers the Healthcare sector, focusing on stocks such as Cytokinetics, Actinium Pharmaceuticals, and Viking Therapeutics. According to TipRanks, Pantginis has an average return of -24.5% and a 23.60% success rate on recommended stocks.
In another report released on May 14, Piper Sandler also maintained a Buy rating on the stock with a $6.00 price target.
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue