Jefferies analyst Andrew Tsai initiated coverage of Lexicon with a Hold rating and $3 price target. The firm sees an 80%-85% probability the FDA approves sotagliflozin for heart failure in May, but is "less confident" about the commercial launch cadence and overall market opportunity, noting that its $350M peak sales estimate is below consensus at $700M. The firm’s risk-adjusted sum-of-the-parts value suggests a "balanced risk/reward" at a market cap of about $475M.
Published first on TheFly
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- Lexicon announces analyses of results from SOLOIST-WHF Phase 3 outcomes study
- New Analyses of Sotagliflozin Showing Time to Clinical Benefit Presented at The American College of Cardiology’s 72nd Annual Scientific Session Together With World Heart Federation’s World Congress of Cardiology
- Lexicon Reveals “INTO THE DARK” Awareness Campaign About Vulnerable and Dangerous Period of Time Faced by Heart Failure Patients Following Hospitalization
- Lexicon Pharmaceuticals Reports Fourth Quarter 2022 Financial Results and Provides Business Update
- Lexicon reports Q4 EPS (16c), consensus (13c)
