BofA out bearish on Lexicon Pharmaceuticals

|About: Lexicon Pharmaceuticals, Inc. (LXRX)|By:, SA News Editor

BofA starts Lexicon Pharmaceuticals (LXRX) at Underperform.

Analyst Colin Bristow says the market may be "significantly overvaluing" LX4211.

Ultimately, Bristow doesn't believe the SGLT 1/2 inhibitor is differentiated enough to "offset headwinds from its fifth-to-market entry."

"We cannot get to the stock's current valuation," the analyst concedes, assigning a price target of $1.50.

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