H.C. Wainwright Reiterates a Buy Rating on Lexicon Pharmaceuticals (LXRX)

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) is one of the hot penny stocks to invest in now. H.C. Wainwright analyst Joseph Pantginis maintained a Buy rating on Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) on June 24, keeping the associated price target at $4.00.

The analyst reasoned that Lexicon Pharmaceuticals, Inc.’s (NASDAQ:LXRX) sotagliflozin has a promising clinical profile for Type 1 Diabetes (T1D) patients and has exhibited a notable drop in hypoglycemic events. Since this is a significant concern in T1D management, it brings a positive light to the company’s operations.

Pantginis further stated that Phase 3 inTandem1 and inTandem2 clinical trial results showed a significant reduction in hypoglycemia rates compared to a placebo when sotagliflozin was used alongside optimized insulin therapy. This effect was the same across different subgroups defined by kidney function, showing sotagliflozin’s broad applicability.

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) discovers, develops, and commercializes pharmaceutical products. The company’s drug candidates include Sotagliflozin for treating heart failure and type 1 diabetes, and LX9211 as a treatment for neuropathic pain.

While we acknowledge the potential of LXRX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.