Needham Thinks Lexicon Pharmaceuticals’ Stock is Going to Recover

By Carrie Williams

In a report issued on September 13, Alan Carr from Needham reiterated a Buy rating on Lexicon Pharmaceuticals (NASDAQ: LXRX), with a price target of $21. The company’s shares closed on Friday at $12.37, close to its 52-week low of $11.80.

According to TipRanks.com, Carr is a 4-star analyst with an average return of 7.3% and a 44.3% success rate. Carr covers the Healthcare sector, focusing on stocks such as Biohaven Pharmaceutical Holding Co Ltd, ACADIA Pharmaceuticals Inc, and Ionis Pharmaceuticals Inc.

Currently, the analyst consensus on Lexicon Pharmaceuticals is Moderate Buy and the average price target is $24, representing a 94.0% upside.

In a report issued on September 8, Stifel Nicolaus also reiterated a Buy rating on the stock with a $27 price target.

The company has a one year high of $19.62 and a one year low of $11.80. Currently, Lexicon Pharmaceuticals has an average volume of 699.7K.

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Lexicon Pharmaceuticals, Inc. operates as a biopharmaceutical company which focuses on the development of breakthrough treatments for human disease. It has multiple programs in clinical development for diabetes, irritable bowel syndrome, carcinoid syndrome and other indications. The company was founded by Brian P. Zambrowicz and Arthur T.