In a report released today, Matthew Caufield from H.C. Wainwright reiterated a Buy rating on LENZ Therapeutics (LENZ – Research Report), with a price target of $38.00.
Matthew Caufield has given his Buy rating due to a combination of factors that highlight the promising potential of LENZ Therapeutics’ LNZ100 product. The novel aceclidine-based eye drop is designed to improve near vision in presbyopia patients without the use of pilocarpine, which is associated with certain safety concerns. This innovative approach targets the iris sphincter muscle, offering a durable all-day efficacy with a favorable safety profile, making it a compelling option for the 128 million presbyopic patients in the US.
Additionally, the positive outcomes from the Phase 3 CLARITY program, which demonstrated significant improvements in near vision without compromising distance vision, further support the product’s potential. The strategic plan to engage 15,000 eye care professionals and the absence of anticipated regulatory or commercial obstacles, given the current political macroenvironment, also contribute to the positive outlook. These factors collectively reinforce Caufield’s confidence in the company’s prospects ahead of the August 2025 PDUFA date for FDA approval.