Analyst Yigal Nochomovitz of Citi reiterated a Buy rating on LENZ Therapeutics (LENZ – Research Report), boosting the price target to $47.00.
Yigal Nochomovitz has given his Buy rating due to a combination of factors that highlight LENZ Therapeutics’ promising outlook. The company is steadily progressing towards an anticipated FDA approval for its aceclidine eyedrop, LNZ100, aimed at treating presbyopia, with a target date set for August 2025. The recent mid-cycle review was uneventful, reinforcing confidence in the approval process and prompting an increase in the target price to $47.
Additionally, the company’s strategic marketing approach is expected to resemble a lifestyle brand launch, leveraging the expertise of their VP of Marketing, who has experience with major brands like Coca-Cola and Red Bull. This strategy, combined with a planned direct-to-consumer rollout in early 2026, is anticipated to drive significant market penetration. The expected high return on share price and the disciplined execution of pre-launch activities further support the Buy rating.
Nochomovitz covers the Healthcare sector, focusing on stocks such as Travere Therapeutics, Crispr Therapeutics AG, and Arvinas Holding Company. According to TipRanks, Nochomovitz has an average return of 5.0% and a 39.18% success rate on recommended stocks.
In another report released today, TD Cowen also maintained a Buy rating on the stock with a $60.00 price target.