In a report released today, Joseph Pantginis from H.C. Wainwright maintained a Buy rating on Lexicon Pharmaceuticals, with a price target of $4.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors including the promising preclinical data presented by Lexicon Pharmaceuticals on their drug candidate, pilavapadin. The data showcased pilavapadin’s potential in reducing neuropathic pain in animal models, particularly in conditions like chemotherapy-induced neuropathic pain and multiple sclerosis. These findings underscore the significance of targeting the serine/threonine kinase, AAK1, in pain management and validate pilavapadin as a promising non-opioid therapeutic option.
Furthermore, Pantginis highlights the alignment of pilavapadin with the FDA’s recent guidelines that emphasize the development of non-opioid analgesics for chronic pain. The FDA’s guidance encourages the creation of treatments that address multiple chronic pain conditions, which pilavapadin appears well-suited for. Given the limited relief provided by current treatments, pilavapadin’s potential to address these unmet needs supports the Buy rating, as it could significantly impact the market for chronic pain therapies.
Pantginis covers the Healthcare sector, focusing on stocks such as Capricor Therapeutics, Krystal Biotech, and Lineage Therap. According to TipRanks, Pantginis has an average return of -4.0% and a 41.68% success rate on recommended stocks.
In another report released on September 4, Citi also maintained a Buy rating on the stock with a $1.90 price target.