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Biotech / Medical : Biotech & Pharma.T.A, -- Ignore unavailable to you. Want to Upgrade?

To: Jibacoa who wrote (2584)	9/15/2009 2:20:40 PM
From: Jibacoa	Read Replies (2) \| Respond to of 3722

LXRX opened with a good UG today in spite of the lower revenues on the last 4Qs and the higher estimated losses for the current Yr. and 2010 <g> The stock was up 133% at its intraday H and still is 77.16% with volume above 15M, about 83x its ADV bigcharts.marketwatch.com LXRX had favorable results from its PI of LX4211 and it announced today that it has initiated a PII of the drug in patients with type 2 DM. The drug is a small molecule that inhibits the sodium glucose transporter 2 and is administered orally. Its is LXRX 4th drug candidate now in PIIs. But the stock had downward pressure from its H after Piper Jaffray issued a research report around noon, calling LXRX morning rally "overdone", and it reiterated its 'Underweight' rating and its $1.50 'target'.<g> (The ACTAY is $3 or double the PJ';s target.<g>) The insiders hold > 30% and the short position has increased > 14% in the last month with the short interest now > 14x its ADV. I don't have a position on LXRX, but in spite of its lower revenues and estimated higher losses, it seems that with some good news, the stock could easily get to YHOO's consensus target, as the stock seems to have plenty of room to run. I certainly would not play it from the short side.<g> bigcharts.marketwatch.com Bernard