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In a report published on Wednesday, Jefferies analyst Thomas Wei initiated coverage on Lexicon Pharmaceuticals (NASDAQ: LXRX) with a Buy Rating and a price target of $3.50.
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In the report, Jefferies stated, "We believe investors have underestimated the potential for SGLTs to show a CV outcomes benefit. We see an LX4211 pharma deal as a potential near-term catalyst prior to Phase 3 trials."
Lexicon Pharmaceuticals closed on Wednesday at $2.22.