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Fly News Breaks for September 18, 2015
LXRX
Sep 18, 2015 | 07:19 EDT
Gabelli downgraded Lexicon (LXRX) to Sell following yesterday's share strength fueled by Eli Lilly's (LLY) positive cardiovascular data for its SGLT-2 inhibitor, Jardiance. The firm sees signficant risk in extrapolating Jardiance results to Lexicon's dual SGLT inhibitor, sotagliflozin. Gabelli's analyst views recent trading activity as an overreaction to sotagliflozin's present value given limitations and riskks of the narrow Type 1-only pathway.
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