Street Calls of the Week
Investing.com - Piper Sandler raised its price target on LENZ Therapeutics Inc (NASDAQ:LENZ) to $67.00 from $51.00 on Friday, while maintaining an Overweight rating on the stock. The new target represents potential upside from the current price of $46.25, with InvestingPro data showing the stock has already delivered impressive returns of +149% over the past six months.
The research firm’s decision follows a survey of 25 eye care professionals (ECPs) to gauge the commercial potential of VIZZ, LENZ’s recently launched treatment for presbyopia, a condition that typically causes farsightedness in middle-aged and older adults.
Survey participants anticipated VIZZ would dominate the topical eye drop market for presbyopia, estimating that 10% of presbyopes under their care would be prescribed the treatment by the first half of 2026, increasing to 14.5% by 2027.
In contrast, competing product VUITY is expected to decline from 2.8% market share in the third quarter of 2025 to 1.6% by 2027, while another competitor, QLOSI, is projected to increase slightly from 0.8% to 1.9% during the same period.
Piper Sandler reduced its discount rate from 12% to 10% in its valuation model following VIZZ’s commercial availability, resulting in the higher price target.
In other recent news, Lenz Therapeutics announced it raised approximately $80 million through the sale of 1,748,634 shares of its common stock at $45.75 per share in a block trade to a single investor. This transaction was conducted under the company’s existing Sales Agreement with TD Securities. Additionally, Lenz has launched its presbyopia treatment, VIZZ, in the United States, with professional samples now being distributed nationwide to eye care professionals. The company plans to begin commercial shipments to consumers in October, with wider availability expected by mid-fourth quarter 2025.
Furthermore, the FDA has approved VIZZ as the first aceclidine-based eye drop for treating presbyopia, leading to increased market interest. Following this approval, H.C. Wainwright raised its price target for Lenz Therapeutics from $48 to $56, maintaining a Buy rating and citing the company as one of its top picks for the second half of 2025. These developments highlight significant progress for Lenz Therapeutics in both financial and product milestones.
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