Analyst Mani Foroohar from Leerink Partners maintained a Buy rating on Lexeo Therapeutics, Inc. and increased the price target to $20.00 from $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.
Mani Foroohar’s rating is based on the recent regulatory update and promising data for Lexeo Therapeutics’ LX2006 in treating Friedreich’s ataxia cardiomyopathy (FA-CM). The FDA’s openness to pooling data from ongoing studies and assessing key endpoints earlier suggests a smoother regulatory path. Additionally, the transition to a more scalable manufacturing process indicates readiness for future clinical and commercial supply.
The safety profile of LX2006 remains favorable, with significant reductions in left ventricular mass index (LVMI) and improvements in other cardiac measures, supporting its therapeutic potential. Furthermore, the Modified Friedreich Ataxia Rating Scale (mFARS) data shows patient improvement or stabilization, aligning with the company’s goal for accelerated approval. These factors contribute to the positive outlook and the increased price target for Lexeo’s stock.