J.P. Morgan analyst Tessa Romero has maintained their bullish stance on LXEO stock, giving a Buy rating on April 8.
Tessa Romero’s rating is based on Lexeo Therapeutics’ promising progress in their cardiovascular gene therapy pipeline, particularly with the LX2006 and LX2020 programs. The company has shown significant advancements in their phase 1/2 trials, with LX2006 demonstrating notable improvements in cardiac biomarkers and frataxin protein expression, which are crucial for the treatment of Friedreich’s ataxia cardiomyopathy. Additionally, Lexeo has aligned with the FDA on key elements of the accelerated development pathway, which bodes well for the future of the LX2006 program.
Furthermore, Lexeo’s financial position is strong, with sufficient cash reserves to support operations into 2027, allowing them to focus on advancing their clinical trials. The company’s strategic workforce reduction and plans to initiate a pivotal trial for LX2006 by early 2026 indicate a clear path forward. The positive safety profile of both LX2006 and LX2020, along with the encouraging interim data, supports the potential for successful outcomes, justifying the Buy rating from Tessa Romero.
In another report released on April 8, H.C. Wainwright also reiterated a Buy rating on the stock with a $23.00 price target.