In a report released today, Mitchell Kapoor from H.C. Wainwright reiterated a Buy rating on Lexeo Therapeutics, Inc., with a price target of $9.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Mitchell Kapoor has given his Buy rating due to a combination of factors that highlight Lexeo Therapeutics, Inc.’s promising position in the gene therapy market. The company’s LX2020 program, targeting PKP2-associated arrhythmogenic cardiomyopathy, shows potential with its Phase 1/2 trial demonstrating encouraging efficacy signals and a clean safety profile. Unlike its competitor, Rocket Pharmaceuticals, Lexeo’s approach has not shown treatment-related severe adverse events, which is attributed to its cardiac-targeted AAVrh10 capsid technology allowing for efficient cardiac transduction at lower doses.
Additionally, Lexeo’s LX2006 program for Friedreich’s ataxia cardiomyopathy is progressing well, with high-dose data showing significant reductions in left ventricular mass index and increased cardiac frataxin expression. The program benefits from Breakthrough Therapy designation and alignment with the FDA on its registrational study design, which includes leveraging natural history data as an external control. These strategic advancements, coupled with a favorable safety profile, bolster confidence in the company’s ability to achieve regulatory approval and market success in the coming years.
According to TipRanks, Kapoor is an analyst with an average return of -10.4% and a 42.53% success rate. Kapoor covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Ionis Pharmaceuticals, and Summit Therapeutics.
In another report released on July 31, Oppenheimer also initiated coverage with a Buy rating on the stock with a $20.00 price target.