Leerink Partnrs Issues Optimistic Forecast for LENZ Earnings

LENZ Therapeutics, Inc. (NASDAQ:LENZ) – Stock analysts at Leerink Partnrs increased their Q4 2024 earnings estimates for LENZ Therapeutics in a research note issued on Wednesday, November 6th. Leerink Partnrs analyst M. Goodman now forecasts that the company will earn ($0.39) per share for the quarter, up from their previous estimate of ($0.52). The consensus estimate for LENZ Therapeutics’ current full-year earnings is ($2.09) per share. Leerink Partnrs also issued estimates for LENZ Therapeutics’ FY2025 earnings at ($2.40) EPS, FY2026 earnings at ($2.55) EPS and FY2028 earnings at $1.25 EPS.

A number of other brokerages have also recently commented on LENZ. HC Wainwright restated a “buy” rating and issued a $38.00 price target on shares of LENZ Therapeutics in a research report on Thursday, November 7th. Raymond James started coverage on shares of LENZ Therapeutics in a report on Friday, September 27th. They issued an “outperform” rating and a $37.00 target price on the stock. William Blair raised shares of LENZ Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Finally, Piper Sandler reissued an “overweight” rating and issued a $36.00 price objective on shares of LENZ Therapeutics in a research note on Thursday, August 15th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $35.40.

LENZ Therapeutics Stock Up 4.2 %

Shares of NASDAQ LENZ opened at $37.25 on Monday. The business has a fifty day moving average price of $25.18 and a two-hundred day moving average price of $21.42. LENZ Therapeutics has a fifty-two week low of $14.07 and a fifty-two week high of $37.51.

LENZ Therapeutics (NASDAQ:LENZ) last announced its earnings results on Wednesday, November 6th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.09. During the same quarter last year, the business posted ($1.33) EPS.

Hedge Funds Weigh In On LENZ Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. acquired a new stake in LENZ Therapeutics in the first quarter valued at approximately $830,000. Vanguard Group Inc. bought a new position in LENZ Therapeutics in the first quarter valued at about $4,621,000. Bank of New York Mellon Corp boosted its stake in shares of LENZ Therapeutics by 255.4% during the second quarter. Bank of New York Mellon Corp now owns 39,737 shares of the company’s stock valued at $687,000 after purchasing an additional 28,556 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of LENZ Therapeutics during the second quarter valued at about $390,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of LENZ Therapeutics during the second quarter worth about $1,437,000. 54.32% of the stock is currently owned by institutional investors and hedge funds.

About LENZ Therapeutics

LENZ Therapeutics, Inc, a biopharmaceutical company, focuses on developing and commercializing therapies to improve vision in the United States. Its product candidates include LNZ100 and LNZ101 which are in Phase III clinical trials for the treatment of presbyopia. The company is headquartered in Del Mar, California.