10 Best Diabetes Stocks To Buy Under $10

2. Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX)

Share Price as of the Close of December 26: $0.78

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) is a biopharmaceutical company leveraging advanced genetic research to develop transformative medicines, particularly for diabetes and related conditions. Its flagship drug, INPEFA (sotagliflozin), is an oral therapy targeting heart failure, type 1 and type 2 diabetes, and cardiovascular risks.

In Q3 2024, Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) reported $1.7 million in net sales for INPEFA (sotagliflozin), with year-to-date sales reaching $4.5 million. Growth was driven by increased prescribing, despite a reduced sales force. The company focuses on advancing ZYNQUISTA (sotagliflozin) for type 1 diabetes (T1D) and chronic kidney disease (CKD). An FDA advisory committee recently reviewed its application, expressing significant support for its use in patients aged 60-90, with a PDUFA goal date of December 20, 2024. If approved, ZYNQUISTA would be the first adjunct to insulin for glycemic control in T1D.

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) has entered an exclusive licensing agreement with Viatris for sotagliflozin outside the U.S. and Europe, involving a $25 million upfront payment and up to $197 million in regulatory and sales milestones. The LX9211 program for diabetic neuropathic pain has completed enrollment screening for its Phase 2b PROGRESS study, with topline data expected in Q1 2025. Additionally, the corporation is advancing the SONATA HCM Phase 3 trial and developing LX9851 for obesity, diversifying its pipeline beyond INPEFA and addressing unmet medical needs in diabetes and related conditions.

Analysts have given the stock a consensus rating of “Strong Buy,” with an average price target of $4.30. Forecasts range from a low of $1.20 to a high of $10.00, reflecting a potential 501.65% increase from its most recent price of $0.78.