J.P. Morgan analyst Tessa Romero has maintained their bullish stance on LXEO stock, giving a Buy rating yesterday.
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Tessa Romero’s rating is based on Lexeo Therapeutics’ significant progress in both regulatory and clinical aspects concerning their LX2006 treatment for Friedreich’s ataxia cardiomyopathy. The company’s alignment with the FDA on pivotal study parameters, including endpoints and dosing, and the FDA’s openness to a BLA submission for accelerated approval, are key factors supporting this positive outlook.
Additionally, interim clinical data from ongoing studies demonstrate promising efficacy, with notable improvements in left ventricular mass index and frataxin protein expression. The safety profile of LX2006 is also encouraging, with no severe adverse events reported. These developments collectively suggest a de-risking of the FA cardiomyopathy program, justifying the Buy rating given the potential for future growth and success.
In another report released yesterday, Chardan Capital also maintained a Buy rating on the stock with a $17.00 price target.
Based on the recent corporate insider activity of 32 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LXEO in relation to earlier this year.