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LXRX

Lexicon

$7.79

0.18 (2.37%)

15:30
03/19/19
03/19
15:30
03/19/19
15:30

Call buyer opens a bullish position in Lexicon Pharmaceuticals upside calls

Call buyer opens a bullish position in Lexicon Pharmaceuticals upside calls. Shares up 2.3% to $7.80 and 3K Apr 9s trade $1.20 when bid-ask was $1.05 to 1.20. The block will create the largest open interest in the name and comes as 30-day implied volatility climbs 5% to 52-week highs of 175. The company has a 3/22 PDUFA date for a diabetes drug.

  • 22

    Mar

  • 25

    Apr

LXRX Lexicon
$7.79

0.18 (2.37%)

01/22/19
WEDB
01/22/19
NO CHANGE
Target $36
WEDB
Outperform
Lexicon price target lowered to $36 from $42 at Wedbush
Wedbush analyst Liana Moussatos lowered her price target for Lexicon to $36 from $42, while reiterating an Outperform rating on the shares as she sees the split AdComm selloff "overdone." On January 17, the Endocrinologic and Metabolic Drug Advisory Committee had a split vote for/against approval of sotagliflozin as potentially the first oral antidiabetic drug used as an adjunct to insulin to improve glycemic control in adults with type 1 diabetes, she notes. The analyst points out that this was the first AdComm for an oral medication for T1D and the non-diabetes experts may have been thinking about T2D A1c drops not on insulin when criticizing the clinical meaningfulness of the 0.2%-0.4% placebo adjusted A1c drop for sotagliflozin. Moussatos also believes the DKA safety issue was "blown out of proportion." Even if FDA issues a CRL on March 22nd to allow more time to develop a RMS or even REMS, the analyst anticipates approval.
03/13/19
GABE
03/13/19
DOWNGRADE
GABE
Sell
Lexicon downgraded to Sell from Hold at Gabelli
03/14/19
GABE
03/14/19
DOWNGRADE
GABE
Sell
Lexicon downgraded to Sell at Gabelli on expected FDA rejection of sotagliflozin
As previously reported, Gabelli analyst Kevin Kedra downgraded Lexicon to Sell from Hold, citing his expectation that the FDA will reject sotagliflozin in type 1 diabetes by its March 22 PDUFA date following a split AdCom vote in January. He believes the FDA is likely to require additional information regarding a risk mitigation strategy to reduce incidences of diabetic ketoacidosis in type 1 patients on sotagliflozin, which is "a manageable hurdle," but one that will likely take additional time to navigate, Kedra tells investors. He has reduced his 2020 private market value estimate for Lexicon shares to $6.00 from $6.50.
03/14/19
03/14/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Lexicon (LXRX) downgraded to Sell from Hold at Gabelli with analyst Kevin Kedra citing his expectation that the FDA will reject sotagliflozin in type 1 diabetes by its March 22 PDUFA date following a split AdCom vote in January. 2. Sun Life Financial (SLF) downgraded to Underperformer from Neutral at CIBC. 3. Yum China (YUMC) downgraded to Outperform from Buy at Daiwa with analyst Adrian Chan citing valuation but says long-term growth remains intact. 4. Line Corp. (LN) downgraded to Underperform from Neutral at Credit Suisse. 5. Nabors Industries (NBR) downgraded to Neutral from Buy at Citi with analyst Scott Gruber saying Nabors' free cash flow outlook is weighted towards the second half of 2019, with Q1 likely to be a cash burn of $40M-plus. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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WVE

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FELE

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Franklin Electric rating change at Boenning & Scattergood »

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AVP

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HRL

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, SJM

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LYFT

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SCON

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LMT

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$NSD

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$NYE

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HRL

Hormel Foods

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KSS

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