10 Hot Penny Stocks to Invest in Now

4. Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)

Stock Price: $1.35

Performance Last Month: 101.49%

Number of Hedge Fund Holders: 10

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) is one of the hot penny stocks to invest in now. H.C. Wainwright analyst Joseph Pantginis maintained a Buy rating on Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) on June 24, keeping the associated price target at $4.00.

The analyst reasoned that Lexicon Pharmaceuticals, Inc.’s (NASDAQ:LXRX) sotagliflozin has a promising clinical profile for Type 1 Diabetes (T1D) patients and has exhibited a notable drop in hypoglycemic events. Since this is a significant concern in T1D management, it brings a positive light to the company’s operations.

Pantginis further stated that Phase 3 inTandem1 and inTandem2 clinical trial results showed a significant reduction in hypoglycemia rates compared to a placebo when sotagliflozin was used alongside optimized insulin therapy. This effect was the same across different subgroups defined by kidney function, showing sotagliflozin’s broad applicability.

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) discovers, develops, and commercializes pharmaceutical products. The company’s drug candidates include Sotagliflozin for treating heart failure and type 1 diabetes, and LX9211 as a treatment for neuropathic pain.