Stifel starts Lexeo at buy, cites ataxia and Alzheimer’s drug candidates (LXEO)

Stifel has began protection of newly public Lexeo Therapeutics (NASDAQ:LXEO) with a purchase ranking, saying it was bullish on the corporate’s lead drug candidate LX2006 within the remedy of Friedreich’s ataxia and sees a possible Alzheimer’s remedy getting little credit score within the inventory’s valuation.

Stifel stated that Lexeo “checks quite a few key packing containers,” specifically its promising early knowledge, commercially engaging indications with actually unmet wants, skilled administration workforce and a number of other near-to-mid-term catalysts for the inventory.

“Extra broadly, we expect Lexeo stands to learn from an more and more versatile regulatory path in CV gene remedy,” wrote Stifel, including that Lexeo’s “inventive Alzheimer’s remedy, whereas dangerous, we expect garners little credit score within the inventory right this moment.”

Stifel set its worth goal for the inventory at $20.