Lexeo Therapeutics price target lowered to $22 from $25 at Chardan

Chardan analyst Geulah Livshits lowered the firm’s price target on Lexeo Therapeutics (LXEO) to $22 from $25 and keeps a Buy rating on the shares. The firm cites the company’s updated data from its phase 1/2 SUNRISE-FA trial and Weill Cornell’s IIT evaluating AAVrh10 GT LX2006 in patients with Friedreich’s ataxia cardiomyopathy showing LVMI improvements/stabilization in a majority of patients at 6+ months with frataxin expression in all evaluated pts at 3 months, the analyst tells investors in a research note. The increased probability of success of 55% for LX2006, up from 45%, is offset by more conservative assumptions on earlier programs as the company moves to accelerate pivotal development while maintaining a 2027 runway, the firm adds.