Cantor Fitzgerald reiterates Lexeo Therapeutics stock Overweight rating

Cantor Fitzgerald maintained its Overweight rating and $35.00 price target on Lexeo Therapeutics (NASDAQ:LXEO). The stock is currently trading at $2.92, indicating strong upside potential. Analysts have a broadly positive outlook, with a strong buy consensus and price targets ranging from $9 to $30. InvestingPro analysis suggests the stock is undervalued, placing it among the most undervalued companies.

The pivotal SUNRISE-FA 2 trial evaluating LX2006 for Friedreich’s ataxia is expected to report topline data in the second half of 2027. LX2006 is an AAVrh10-based gene therapy, and the trial aims for a ≥15% LVMI treatment effect, considered clinically meaningful. Cantor Fitzgerald's independent assessment of the trial's success probability is high.

The SUNRISE-FA 2 results are seen as a significant catalyst for Lexeo shares. Investors should be aware that LXEO stock has been volatile, down 69% year-to-date. Lexeo Therapeutics recently completed the acquisition of Mantle Therapeutics for up to $21.3 million, adding four therapeutic programs to its Friedreich ataxia treatment platform.

This acquisition includes the clinical-stage oral combination therapy LX3010, which showed promising results in preclinical studies. Other Wall Street firms have also updated their ratings and price targets for Lexeo Therapeutics, highlighting the company's promising prospects in the treatment of Friedreich’s ataxia.