Citi ups PT on LENZ Therapeutics on eye-drop approval confidence

Citi hikes PT on LENZ Therapeutics LENZ.O by $3 to $47, 2nd-highest on Wall St and 84% higher vs $25.52 last close

Citi keeps "buy" rating, still seeing "high likelihood" of approval for LENZ'z LNZ10 eye drop for people with presbyopia

FDA decision expected in Aug, but Citi expects LENZ's "Commercial Day" in mid-April to show a more lifestyle oriented marketing campaign plan vs a traditional approach

Citi expects commercial sales to start in Q4 and DTC roll-out in early 2026

Analysts avg rating on LENZ is equivalent of "strong buy", with PT's ranging from $36 to $60, per LSEG data

LENZ stock doubled in 2024 but is down 11.5% YTD