LENZ Therapeutics (NASDAQ:LENZ) soared in trading after announcing positive topline results from its Phase 3 CLARITY study of two investigational formulations for treating presbyopia. Presbyopia is the gradual loss of the ability of the eyes to focus on nearby objects.
The Phase 3 safety and efficacy trials (CLARITY 1 and 2) of aceclidine, LNZ100, and LNZ101 showed that LNZ100 (1.75% aceclidine) achieved the key primary and secondary endpoints, with statistically significant improvement. Similarly, LNZ101 achieved primary and secondary endpoints in the trials but did not show superiority to LNZ100.
Is LENZ a Buy or Sell?
Only one analyst has covered LENZ over the past three months and has a Buy rating on the stock. The analyst has a LENZ price target of $28 implying an upside potential of 33.3% at current levels. Over the past year, LENZ has soared by more than 70%.
