Analyst Matthew Caufield from H.C. Wainwright reiterated a Buy rating on LENZ Therapeutics and keeping the price target at $56.00.
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Matthew Caufield has given his Buy rating due to a combination of factors surrounding LENZ Therapeutics. Despite a recent adverse event reported in the FDA’s database involving a patient with a retinal tear after using VIZZ presbyopia eye drops, Caufield believes this incident is not indicative of a broader risk. The patient in question had a history of retinal issues and did not undergo the recommended retinal examination before starting the therapy, which is crucial for identifying potential risks.
Caufield emphasizes that the market’s reaction, which saw LENZ’s stock drop significantly, is an overreaction to this isolated case. He maintains confidence in the product’s safety profile when used as intended, with proper patient screening. The Buy rating is supported by the belief that the initial launch phase of VIZZ will gain traction, especially with the targeted commercial strategy aimed at prescribers familiar with similar products. Caufield expects that as long as prescribers adhere to guidelines for patient selection and manage expectations, the product will see successful adoption in the market.
Caufield covers the Healthcare sector, focusing on stocks such as Immunic, LENZ Therapeutics, and Opus Genetics. According to TipRanks, Caufield has an average return of 21.6% and a 47.16% success rate on recommended stocks.
In another report released on December 4, Citi also maintained a Buy rating on the stock with a $52.00 price target.