Healthcare Shares Rise; Lexicon Pharma Climbs Over 20% on Positive Results for Prospective Diabetes Drug

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Healthcare stocks are holding on to broad gains today with the NYSE Healthcare Sector Index adding around 0.8% and shares of healthcare companies in the S&P 500 climbing nearly 0.9% as a group.

In company news, Lexicon Pharmaceuticals Inc. ( LXRX ) is up more than 21% in late trade at $2.89 a share, rising to its best level in around 15 months after saying its LX4211 drug candidate, a glucose inhibitor intended to treat patients with type 2 diabetes and severe kidney impairment, met its primary endpoints in a placebo-controlled, proof-of-concept study.

The drug aims to reduce glucose levels after eating, a key objective of diabetes therapy. LXRX last year said LX4211 worked better than a placebo at reducing blood sugar levels for patients with diabetes and healthy kidneys.

In other sector news,

(+) KND, Acquires TherEX Inc., paying $14 mln for the on-site, hospital-based, rehabilitation services provider operating in 11 states. TherEX generated around $20 mln in revenue during 2012.

(-) CPHD, Shares of the molecular-diagnostics company's stock are cut to Neutral from Buy at Bank of America with a $41 price target.



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This article appears in: Investing , Commodities

Referenced Stocks: LXRX

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