LENZ Therapeutics, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Jason Gerberry from Bank of America Securities reiterated a Buy rating on the stock and has a $44.00 price target.
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Jason Gerberry has given his Buy rating due to a combination of factors that highlight the potential of LENZ Therapeutics’ newly approved drug, Vizz. The FDA approval for Vizz, which came earlier than anticipated, is a positive indicator, and the drug’s label shows differentiation in the market. Vizz’s broader study population and higher efficacy in achieving vision improvement compared to competitors like Vuity are significant advantages.
Additionally, the safety labeling of Vizz, which addresses class risks such as retinal detachment, is presented in a way that minimizes concerns. The drug’s once-daily administration is expected to be a commercial advantage, making it more user-friendly. Furthermore, the pricing strategy is competitive, with options that could maximize the total addressable market by aligning with healthcare professionals’ feedback. These factors collectively contribute to the underappreciated peak sales opportunity for Vizz, justifying the Buy rating.
Gerberry covers the Healthcare sector, focusing on stocks such as Teva Pharmaceutical, Liquidia Technologies, and Exelixis. According to TipRanks, Gerberry has an average return of 2.5% and a 50.10% success rate on recommended stocks.
In another report released yesterday, Raymond James also maintained a Buy rating on the stock with a $40.00 price target.