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Fly News Breaks for August 10, 2015
LXRX
Aug 10, 2015 | 06:38 EDT
JPMorgan analyst Jessica Fye downgraded Lexicon Pharmaceuticals to Neutral saying shares are more fairly valued following the 90% year-to-date rally. Fye assigns a 95% probability of success for the company's lead asset telotristat in carcinoid syndrome following the recent positive top-line phase III data. She has a more cautious view on Lexicon's second asset, sotagliflozin, which is being studied to treat Type 1 diabetes. The analyst raised her price target for Lexicon shares to $14 from $9. The stock closed Friday down 68c to $11.38.
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