Lexeo Therapeutics initiated with an Outperform at Oppenheimer

Oppenheimer analyst Leland Gershell initiated coverage of Lexeo Therapeutics (LXEO) with an Outperform rating and $20 price target The firm expresses “enthusiasm on this emerging developer of potentially transformative gene therapies” investigating rare and poorly-met cardiac and neurodegenerative diseases, noting that lead candidate LX2006 is heading into a registration trial in Friedreich’s ataxia cardiomyopathy. With LX2020 for PKP2 arrhythmic cardiomyopathy closely following and a cash runway into 2028, the firm recommends investors build a position.