Jul. 31 at 11:18 AM
Oppenheimer🏁
$LXEO Outperform-
$20.
$LRMR $PTCT $BIIB
Oppenheimer said, "We initiate coverage of
$LXEO at Outperform, assigning a
$20 price target, with enthusiasm on this emerging developer of potentially transformative gene therapies for rare and poorly-met cardiac and neurodegenerative diseases.
Lead candidate LX2006 is heading into a registration trial in Friedreich's ataxia (FA) cardiomyopathy, for which prior clinical data provide clear line of sight on success and support our
$1B+ US peak sales estimate.
Closely following is LX2020 for PKP2 arrhythmic cardiomyopathy, a potentially larger opportunity for which a key data reveal this fall stands to increase visibility on path to market and commercial prospects.
$LXEO's technology favors efficacy, safety and scalability relative to other gene therapy approaches.
With cash runway into 2028E and ~
$150M fully diluted EV, we recommend investors build a position."
