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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 Friday, while maintaining a Buy rating on the stock. The company, currently trading at $39.85 with a market capitalization of $1.14 billion, has seen its shares surge nearly 80% over the past year. According to InvestingPro data, analysts maintain a Strong Buy consensus with price targets ranging from $36 to $60.
The price target increase follows the FDA approval for VIZZ (aceclidine ophthalmic solution, 1.44%), LENZ’s novel topical therapy for presbyopia. H.C. Wainwright identified LENZ as one of its "HCW 2H25 Top Picks." InvestingPro analysis shows the company maintains a strong financial position with more cash than debt and liquid assets exceeding short-term obligations. For deeper insights, InvestingPro offers 11 additional key tips about LENZ’s financial health and market position.
VIZZ represents a second-generation presbyopia eye drop that uses a novel mechanism beyond pilocarpine, which was used in AbbVie (NYSE:ABBV)’s first-generation product VUITY. According to H.C. Wainwright, VUITY disappointed key opinion leaders with "suboptimal efficacy, durability, and headache and retinal risk safety profile."
The firm noted that VIZZ’s aceclidine-based formulation targets iris sphincter muscle contraction as a pupil selective miotic, providing independence from the ciliary muscle. This approach offers the efficacy and all-day durability physicians seek, while minimizing risks of headaches or severe retinal complications.
LENZ Therapeutics plans to initiate direct-to-eye care professional sales and marketing for VIZZ, with samples becoming available as early as October 2025.
In other recent news, LENZ Therapeutics announced the FDA approval of VIZZ, its aceclidine-based eye drop for presbyopia, marking a significant milestone for the company. This approval makes VIZZ the first and only eye drop treatment for blurry near vision in adults, with plans to release samples in the United States by October 2025 and full commercial availability by the end of the year. Following this development, H.C. Wainwright raised its price target for LENZ Therapeutics from $48 to $56, maintaining a Buy rating and identifying the company as a top pick for the latter half of 2025. In its second quarter financial results, LENZ Therapeutics reported a loss of $0.53 per share as it gears up for the potential commercial launch of its product, LNZ100. The company confirmed that the New Drug Application for LNZ100 remains on track for an FDA decision by August 8, 2025. To support its commercialization efforts, LENZ has completed the hiring and training of an 88-member sales force. The company also ended the quarter with a robust cash position of $209.6 million, which is expected to sustain operations until achieving post-launch positive cash flow. These developments underline LENZ Therapeutics’ strategic positioning in the presbyopia treatment market.
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