Lexeo Therapeutics price target lowered to $18 from $19 at Leerink

Leerink lowered the firm’s price target on Lexeo Therapeutics (LXEO) to $18 from $19 and keeps an Outperform rating on the shares. The firm notes the company announced Q4 financial results, further detail on LX2006 pivotal trial in Friedreich’s ataxia cardiomyopathy and interim data for LX2020 in PKP2-ACM. Following disclosed registrational design elements, Lexeo announced that increased frataxin expression – a co-primary endpoint alongside reduction in left ventricular mass index to support accelerated approval – will be evaluated for any increase from baseline, measured by liquid chromatography mass spectrometry. Leerink sees the update as an incremental positive for both clinical programs.