Citi ups PT on LENZ Therapeutics on eye-drop approval confidence

LENZ Therapeutics

20/03/2025 11:45

** Citi hikes PT on LENZ Therapeutics LENZ.O by $3 to $47, 2nd-highest on Wall St and 84% higher vs $25.52 last close

** Citi keeps "buy" rating, still seeing "high likelihood" of approval for LENZ'z LNZ10 eye drop for people with presbyopia

** FDA decision expected in Aug, but Citi expects LENZ's "Commercial Day" in mid-April to show a more lifestyle oriented marketing campaign plan vs a traditional approach

** Citi expects commercial sales to start in Q4 and DTC roll-out in early 2026

** Analysts avg rating on LENZ is equivalent of "strong buy", with PT's ranging from $36 to $60, per LSEG data

** LENZ stock doubled in 2024 but is down 11.5% YTD

 (Reporting by Siddhi Mahatole)

 ((siddhi.mahatole@thomsonreuters.com))