RBC Capital analyst Luca Issi raised the firm’s price target on Lexeo Therapeutics to $24 from $22 and keeps an Outperform rating on the shares after its Q4 results. The company’s Friedreich’s ataxia update was “solid”, with more data – including measures of hypertrophy and other cardiac biomarkers – now expected in mid-2024, the analyst tells investors in a research note. After a $95M private placement equity financing, Lexeo is also now guiding a cash runway extended from Q4 of 2025 into 2027, the firm adds, stating that at under $300M enterprise value and a “tantalizing” proof of concept, it remains positive on the setup for the stock.
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