Lexeo Therapeutics price target lowered to $19 from $20 at Leerink

Leerink lowered the firm’s price target on Lexeo Therapeutics (LXEO) to $19 from $20 and keeps an Outperform rating on the shares. The firm notes Lexeo announced Q3 financial results and alignment with FDA on a registrational path for LX2006 in Friedreich’s ataxia cardiomyopathy. Leerink says today’s update falls in-line with expectations as 10% reduction in LVMI has some precedent from FDA and frataxin levels are a hallmark of FA. Narrowing enrollment criteria to include FA-CM patients with elevated LVMI should marginally de-risk the trial, though it could have implications for a potential label, the firm adds.