Oppenheimer Starts Lexeo Therapeutics (LXEO) at Outperform

Oppenheimer analyst Leland Gershell initiates coverage on Lexeo Therapeutics (NASDAQ: LXEO) with a Outperform rating and a price target of $20.00.

The analyst commented: "We initiate coverage of LXEO at Outperform, assigning a $20 price target, with enthusiasm on this emerging developer of potentially transformative gene therapies for rare and poorly-met cardiac and neurodegenerative diseases. Lead candidate LX2006 is heading into a registration trial in Friedreich's ataxia (FA) cardiomyopathy, for which prior clinical data provide clear line of sight on success and support our $1B+ US peak sales estimate. Closely following is LX2020 for PKP2 arrhythmic cardiomyopathy, a potentially larger opportunity for which a key data reveal this fall stands to increase visibility on path to market and commercial prospects. LXEO's technology favors efficacy, safety and scalability relative to other gene therapy approaches. With cash runway into 2028E and ~$150M fully diluted EV, we recommend investors build a position."

For an analyst ratings summary and ratings history on Lexeo Therapeutics click here. For more ratings news on Lexeo Therapeutics click here.

Shares of Lexeo Therapeutics closed at $4.65 yesterday.

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