Analyst Yigal Nochomovitz of Citi maintained a Buy rating on Lexicon Pharmaceuticals, retaining the price target of $1.90.
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Yigal Nochomovitz has given his Buy rating due to a combination of factors that indicate promising developments for Lexicon Pharmaceuticals. The company has shown favorable execution in its HCM and DPNP programs, with over 130 sites and rapid enrollment suggesting that the Phase 3 data for SONATA-HCM will be available as expected in the first quarter of 2027. Additionally, management is leveraging recent momentum to secure a partner for the DPNP program by early 2026, which could significantly boost the stock’s valuation.
Furthermore, Lexicon Pharmaceuticals is making progress in addressing FDA concerns regarding diabetic ketoacidosis (DKA) rates associated with its T1D treatment, Zynquista. The company’s agreement with the FDA to use data from the Steno 1 trial is a positive regulatory step, potentially eliminating the need for further costly trials. This strategic approach, alongside ongoing discussions with the FDA, positions Lexicon favorably for a potential NDA resubmission, supporting the Buy rating.
According to TipRanks, Nochomovitz is a 4-star analyst with an average return of 5.3% and a 41.72% success rate. Nochomovitz covers the Healthcare sector, focusing on stocks such as Arcus Biosciences, Summit Therapeutics, and Lexicon Pharmaceuticals.
In another report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $4.00 price target.