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Investing.com - H.C. Wainwright raised its price target on Lexeo Therapeutics (NASDAQ:LXEO) to $15.00 from $9.00 on Wednesday, while maintaining a Buy rating on the gene therapy company’s stock. The move comes as LXEO shows strong momentum, with the stock surging 25.6% in the past week and an impressive 358.24% over the last six months.
The price target increase follows the FDA’s written minutes confirming openness to a pooled Phase 1/2 and pivotal dataset for the company’s therapy. The regulatory agency also indicated acceptance of an earlier left ventricular mass index (LVMI) assessment for accelerated approval.
H.C. Wainwright increased its probability of approval estimate to 50% from 40% previously and moved forward its projected launch timeline to 2028 from 2030 for Lexeo’s treatment targeting Friedreich’s ataxia cardiomyopathy (FA-CM).
The firm maintained its assumption of 10% peak penetration within the FA-CM population, with the price target adjustment reflecting formal FDA alignment and updated timelines.
Lexeo Therapeutics is expected to provide an update on its pivotal trial start and Biologics License Application submission timing in early 2026.
In other recent news, Lexeo Therapeutics announced progress in discussions with the FDA regarding an accelerated approval pathway for its Friedreich ataxia cardiomyopathy treatment, LX2006. The FDA’s openness to pooling data from ongoing Phase I/II studies with pivotal data could potentially expedite the Biologics License Application process. Interim clinical data from Lexeo showed promising results, with participants experiencing significant reductions in left ventricular mass index, exceeding the FDA’s target threshold. In terms of analyst activity, H.C. Wainwright lowered its price target for Lexeo to $9.00 from $15.00, citing adjustments for dilution and modified operating expenses, but maintained a Buy rating. Meanwhile, Oppenheimer initiated coverage on Lexeo with an Outperform rating and set a price target of $20.00. The firm expressed optimism about Lexeo’s gene therapies for rare diseases, particularly highlighting LX2006’s advancement to a registration trial. These developments reflect ongoing interest and varied perspectives from analysts regarding Lexeo’s potential.
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