Lexicon Pharmaceuticals (LXRX) Posts Quarterly Earnings Results, Beats

Achillion Pharmaceuticals Incorporated (NASDAQ:ACHN) shares last traded at 10.08 after closing yesterday at 8.99.

On 6 November, Celldex Therapeutics, Inc.

The company is a specialty biotechnology company, focuses on developing products for critical-care patients with respiratory disease and improving care in pulmonary medicine. According to the information by the brokerage house, Gabelli & Co. upgrades its outlook on Lexicon Pharmaceuticals, Inc. Wedbush lifted their target price on Lexicon Pharmaceuticals from $19.00 to $26.00 and gave the stock an “outperform” rating in a report on Monday. The Company focuses on the development of four drug candidates for the treatment of HCV: ACH-1625, a NS3 protease inhibitor for the treatment of HCV, which is being tested in a phase IIa clinical trial, ACH-2684, a NS3 protease inhibitor for the treatment of HCV, which is being tested in a phase I clinical trial; ACH-2928, a NS5A inhibitor for the treatment of HCV, which is being tested in a phase I clinical trial, and ACH-3102, a NS5A inhibitor for the treatment of HCV, which is being prepared for investigational new drug (IND), filing and initiation of a phase I clinical trial. However, if the road gets shaky, the stock may fall short to $9 per share.

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) opened trading today as $13.04 and is trading in the range of 12.40-14.50 today. The higher price target estimate for the stock has been calculated at $25.00 while the lower price target estimate is at $19.00. Lexicon is also entitled to tiered, escalating double digit percentage royalties of net sales of sotagliflozin.

Sanofi obtains an exclusive worldwide license to develop, manufacture and commercialize sotagliflozin. Under the terms of the contract, Lexicon will receive an upfront payment of $300 million and is eligible to receive development, regulatory and sales milestone payments of up to $1.4 billion. The financial outcomes reported in this press release are as of September 30, 2015 and do not reflect any impact of this collaboration. The organization is engaged in the creation of two drug candidates: telotristat etiprate (LX1032) and sotagliflozin (LX4211). It is now under study in two phase III trials in type 1 diabetes, while phase III trials in type 2 diabetes are scheduled for 2016. The company, on November 5, 2015, declared financial results for the three and nine months ended September 30, 2015, and provided an update of recent corporate developments.

Change in Fair Value of Symphony Icon Purchase Liability: In connection with the acquisition of Symphony Icon, Lexicon made an initial estimate of the fair value of the liability for the associated base and contingent payments. (NASDAQ:LXRX) is $15.79 and the 52-week low is $5.600005. When calculating in the EPS estimates for the current year from sell-side analysts, the Price to current year EPS stands at N/A. Investors looking further ahead, will note that the Price to next year’s EPS is N/A. The Content included in this article is just for informational purposes only. We believe this arrangement with Sanofi achieves that objective,”said Lexicon President and Chief Executive Officer Lonnel Coats”. This is the Zacks Research consensus estimate based on the analysts they have polled. The company rose 1.12% with market capitalization of 22.89 billion.

The results surpassed Wall Street expectations.