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Fly News Breaks for December 22, 2016
LXRX
Dec 22, 2016 | 06:13 EDT
After shares of Lexicon Pharmaceuticals fell 7% yesterday following data from the second Phase 3 testing sotagliflozin in Type 1 diabetes, Citi analyst Yigal Nochomovitz says he disagrees with the market view. Investors are "getting too bogged" down on the safety question, the analyst tells investors in a research note. The data "unambiguously solve a major clinical challenge" in Type 1, which is getting A1c lower without the expense of glycemic excursions and thus more hypos, Nochomovitz writes. He keeps a Buy rating on Lexicon with a $24 price target.
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