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Investing.com - H.C. Wainwright raised its price target on LENZ Therapeutics Inc (NASDAQ:LENZ) to $56.00 from $48.00 on Monday, while maintaining a Buy rating on the stock. The company, currently valued at $813.74 million, has seen its shares rise nearly 25% over the past year.
The price target increase follows the FDA approval of VIZZ (aceclidine ophthalmic solution, 1.44%), LENZ’s novel topical therapy for presbyopia. H.C. Wainwright identified LENZ as one of its top picks for the second half of 2025. According to InvestingPro data, the company maintains a strong financial position with a current ratio of 20.54, indicating robust liquidity to support its product launch.
VIZZ represents a second-generation presbyopia eye drop that uses a mechanism different from first-generation treatments like AbbVie (NYSE:ABBV)’s VUITY (pilocarpine ophthalmic solution, 1.25%), which reportedly disappointed key opinion leaders with its efficacy, durability, and safety profile.
According to H.C. Wainwright, VIZZ’s aceclidine-based formulation targets iris sphincter muscle contraction rather than the ciliary muscle, potentially offering better efficacy and all-day durability without re-dosing, while minimizing risks of headaches or retinal complications.
The company plans to initiate direct-to-eye care professional sales and marketing with samples becoming available as early as October 2025.
In other recent news, Lenz Therapeutics announced that its eye drop treatment for presbyopia, VIZZ, received FDA approval. The approval marks VIZZ as the first aceclidine-based eye drop for treating blurry near vision in adults. Lenz plans to make samples available in the United States by October 2025, with a broader commercial launch expected by the fourth quarter of the same year. Additionally, Lenz Therapeutics reported a second-quarter loss of $0.53 per share, as the company prepares for the potential commercial launch of its aceclidine-based eye drop, LNZ100. The New Drug Application for LNZ100 remains on track for an FDA decision by August 8, 2025. The company has completed hiring and training an 88-member sales force to support immediate commercialization upon approval. Lenz ended the quarter with a cash reserve of $209.6 million, which it anticipates will support operations until achieving post-launch positive cash flow. These developments underscore Lenz’s strategic positioning in the presbyopia treatment market.
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