Leerink Partners analyst Mani Foroohar has maintained their bullish stance on LXEO stock, giving a Buy rating on April 8.
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Mani Foroohar has given his Buy rating due to a combination of factors that highlight the potential of Lexeo Therapeutics, Inc. in advancing its therapeutic pipeline. The recent data release for LX2006 in Friedreich’s ataxia cardiomyopathy shows promising results, particularly in frataxin expression and left ventricular mass index (LVMI) improvements. The trials demonstrated significant LVMI reduction in participants, with notable improvements in secondary endpoints such as lateral wall thickness and troponin levels, alongside consistent safety profiles.
Furthermore, the anticipation of a pivotal trial initiation by early 2026, with potential data by 2027, underscores the company’s strategic progression. Despite the current negative enterprise value and broader market challenges, the positive updates and initial data from earlier studies suggest a favorable outlook for LXEO, supporting the Buy rating. The market’s reaction, with shares rising pre-market, aligns with the encouraging developments and the potential for a reevaluation of the stock as sentiment in gene therapy improves.
In another report released on April 8, H.C. Wainwright also reiterated a Buy rating on the stock with a $23.00 price target.
Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of LXEO in relation to earlier this year.