In a report released today, Matthew Caufield from H.C. Wainwright reiterated a Buy rating on LENZ Therapeutics, with a price target of $56.00.
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Matthew Caufield has given his Buy rating due to a combination of factors including the positive perspectives from key opinion leaders (KOLs) regarding the launch of LENZ Therapeutics’ novel presbyopia eye drop, VIZZ. The KOLs, who are experienced in treating presbyopia and have prior experience with similar products, have shown optimism about VIZZ’s potential as an alternative to traditional reading glasses, especially for patients in their 40s and 50s.
Furthermore, the efficacy of VIZZ, demonstrated by significant improvements in near vision for a majority of patients without compromising distance vision, adds to its appeal. Caufield also notes that while there might be minor side effects, such as mild irritation, these can be managed through proper patient education. The differentiation of VIZZ’s aceclidine mechanism from previous products, along with strategic marketing efforts, is expected to drive patient demand and adoption, supporting the Buy rating and the $56 price target.
In another report released on October 20, Piper Sandler also maintained a Buy rating on the stock with a $67.00 price target.