Lenz Therapeutics initiated with a Buy at TD Cowen

TD Cowen analyst Stacy Ku initiated coverage of Lenz Therapeutics (LENZ) with a Buy rating and $60 price target The firm cites conviction in LNZ100’s “large” presbyopia opportunity, noting that it expects high consumer satisfaction as ‘100 has demonstrated best-in-class efficacy and clean safety. The firm notes that its $1B-plus peak sales estimate reflects 2% of the presbyopia market, adding that it believes “the launch should impress.”