Lenz Therapeutics initiated with a Buy at H.C. Wainwright

H.C. Wainwright initiated coverage of Lenz Therapeutics with a Buy rating and $38 price target. The company is developing the first aceclidine daily topical eye drop for near vision improvement in patients with presbyopia, or age-related farsightedness, which occurs with the progressive loss of accommodation lens elasticity in middle and old age. the analyst tells investors in a research note. The firm believes aceclidine’s independence from the ciliary muscle, as a pupil selective miotic represents an important therapeutic differentiation supported by demonstrated efficacy, durability, and tolerability.