H.C. Wainwright Reiterates a Buy Rating on Lexicon Pharmaceuticals (LXRX)

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) is one of the hot penny stocks to invest in nowH.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.

A laboratory researcher in a white coat, closely examining a microscope.

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.

While we acknowledge the potential of LXRX to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LXRX and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.