Lexicon Pharmaceuticals’ Promising Phase 2b Trial Results for Pilavapadin Drive Buy Rating

Lexicon Pharmaceuticals (LXRX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Joseph Pantginis from H.C. Wainwright maintained a Buy rating on the stock and has a $4.00 price target.

Joseph Pantginis has given his Buy rating due to a combination of factors including the promising results from Lexicon Pharmaceuticals’ Phase 2b PROGRESS clinical trial for pilavapadin (LX9211). The trial demonstrated significant reductions in average daily pain scores (ADPS) for patients with diabetic peripheral neuropathic pain (DPNP), particularly at the 10 mg dose, which showed a meaningful separation from both baseline and placebo.
The favorable outcomes from this trial not only validate the efficacy and safety of pilavapadin but also reduce the risk associated with advancing the 10 mg dose into Phase 3 clinical development. The trial’s design, which removed the initial high loading dose seen in previous studies, further supports the potential of AAK1 inhibition as a novel therapeutic approach. These factors collectively underpin Pantginis’s confidence in the stock’s potential, leading to his Buy recommendation.