Lenz Therapeutics initiated with an Overweight at Piper Sandler

Piper Sandler initiated coverage of Lenz Therapeutics with an Overweight rating and $28 price target. The analyst views the company’s topical drops for the treatment of presbyopia as best-in-class assets positioned to realize a sizable commercial opportunity. Commercial precedent suggests that the presbyopic market could be receptive to a topical therapy with an attractive clinical profile, the analyst tells investors in a research note. Piper believes that LNZ100 and LNZ101 have such a profile.