SNY - Citi upgrade Lifts Lexicon Pharma by 38%

Lexicon Pharmaceuticals (NASDAQ:LXRX) surges +38.2% in pre-market trading after Citi raised its rating from Neutral to Buy.Amid collaboration chatter, the stock “should regain momentum” noted the analyst Yigal Nochomovitz as partnership talks continue after an experimental diabetes drug yielded new results in November.Adding new data to his model, Yigal pegs the chance of success for sotagliflozin at 75% in heart failure. The company lost the collaboration partner Sanofi (NASDAQ:SNY) after the drug received FDA complete response letter last year in type 1 diabetes.Though Wall Street is Bullish on the stock, SA authors have a neural view on the stock that has lost more than two thirds of the value over the past 12-month period.

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Citi upgrade Lifts Lexicon Pharma by 38%