Lexicon price target raised to $6 from $4 at H.C. Wainwright

H.C. Wainwright raised the firm’s price target on Lexicon (LXRX) to $6 from $4 and keeps a Buy rating on the shares following the Q4 report. The firm increased its probability of success for pilavapadin to 30% from 15%. It expects an “important partnership” for the Phase 3-ready pilavapadin based on Lexicon’s work on the clinical and regulatory front helping to de-risk program.