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Investing.com - H.C. Wainwright raised its price target on LENZ Therapeutics Inc (NASDAQ:LENZ) to $48.00 from $38.00 on Monday, while maintaining a Buy rating ahead of an upcoming regulatory decision. The stock, currently trading at $31.62, has shown strong momentum with a 20% gain over the past six months, while analysts’ targets range from $36 to $60.
The firm’s updated outlook comes as LENZ approaches an August 8, 2025, PDUFA date for its aceclidine daily eye drop, a novel treatment for presbyopia that could provide an alternative to reading glasses. The $890 million market cap company maintains a strong financial position, with InvestingPro analysis showing a robust current ratio of 23.09 and an overall GOOD financial health score.
H.C. Wainwright based its more optimistic valuation on discussions with key opinion leaders (KOLs) in optometry and ophthalmology, who provided insights into market opportunity and potential receptivity to the LENZ product. Discover more valuable insights about LENZ and 1,400+ other stocks with InvestingPro’s comprehensive research reports.
The research firm specifically consulted physicians whose practices include more than 50% reading glasses patients and those with experience prescribing AbbVie (NYSE:ABBV)’s VUITY, a first-generation presbyopia eye drop treatment.
KOLs emphasized the importance of product samples for in-office assessment, all-day efficacy without repeat dosing, and demonstrated safety with minimal risk of headaches or retinal complications as key factors that would drive commercial adoption.
In other recent news, LENZ Therapeutics has announced several significant developments. The company entered into an exclusive licensing and commercialization agreement with Laboratoires Théa for its presbyopia treatment, LNZ100, in Canada. This deal could bring LENZ over $70 million in milestone payments, along with tiered, double-digit royalties on net sales. Additionally, LENZ has signed a similar agreement with Lotus Pharmaceutical (TADAWUL:2070) for the commercialization of LNZ100 in the Republic of Korea and select Southeast Asian countries, potentially securing up to $125 million in payments.
Analysts have also weighed in on LENZ Therapeutics, with William Blair reiterating its Outperform rating for the company. Citi analysts maintained a Buy rating with a $45 price target, emphasizing the potential FDA approval of LNZ100 by August 8, 2025, as a crucial milestone. This comes after a successful Late Cycle FDA meeting, which did not raise any major or minor review issues. Furthermore, the company recently held its 2025 annual stockholder meeting, where directors were elected and the independent auditor was ratified. These developments reflect a period of strategic growth and positive outlook for LENZ Therapeutics.
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