Lenz Therapeutics initiated with an Outperform at Raymond James

Raymond James last night initiated coverage of Lenz Therapeutics with an Outperform rating and $37 price target. The firm says presbyopia is a very large market opportunity within eye care that remains underserved. Lenz’s LNZ100 would be the first and only aceclidine based eye drop to potentially gain approval to treat presbyopia, the analyst tells investors in a research note. Raymond believes LNZ100 has demonstrated a best-in-class profile as a prescription product to improve vision.