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Needham Sticks to Its Hold Rating for Lexicon Pharmaceuticals (LXRX)

In a report released today, Joseph Stringer from Needham maintained a Hold rating on Lexicon Pharmaceuticals (LXRXResearch Report). The company’s shares closed yesterday at $2.33.

According to TipRanks, Stringer is a 3-star analyst with an average return of 2.0% and a 42.98% success rate. Stringer covers the Healthcare sector, focusing on stocks such as Vaxcyte, Avidity Biosciences, and Alnylam Pharma.

Lexicon Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $10.00.

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Based on Lexicon Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $35 thousand and a GAAP net loss of $24.59 million. In comparison, last year the company earned a revenue of $23 thousand and had a GAAP net loss of $23.12 million

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Lexicon Pharmaceuticals, Inc. engages in the discovery, development, and commercialization of pharmaceutical products for the treatment of human disease. It drug candidates include XERMELO, Sotagliflozin, LX2761, and LX9211. The company was founded by Brian P. Zambrowicz and Arthur T. Sands on July 7, 1995 and is headquartered in The Woodlands, TX.

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