LENZ Therapeutics (NASDAQ:LENZ) Releases Earnings Results, Beats Estimates By $0.05 EPS

Key Points

• LENZ Therapeutics reported a quarterly EPS of ($0.53), exceeding the consensus estimate by $0.05.
• The stock is currently trading at $31.75, with a market cap of $893.62 million and a consensus price target of $48.60.
• Piper Sandler initiated coverage with an "overweight" rating and a price target of $51.00, while HC Wainwright raised its price target to $48.00.

LENZ Therapeutics (NASDAQ:LENZ - Get Free Report) issued its earnings results on Wednesday. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.05, Zacks reports. The firm had revenue of $5.00 million during the quarter, compared to the consensus estimate of $5.00 million.

LENZ Therapeutics Price Performance

Shares of LENZ traded up $0.19 during mid-day trading on Friday, reaching $29.96. 1,569,366 shares of the company's stock traded hands, compared to its average volume of 278,602. The stock has a market cap of $854.46 million, a P/E ratio of -15.77 and a beta of 0.42. The stock's 50-day moving average is $31.03 and its two-hundred day moving average is $26.98. LENZ Therapeutics has a 12 month low of $16.53 and a 12 month high of $38.93.

Wall Street Analyst Weigh In

LENZ has been the topic of several research reports. Citigroup reaffirmed a "buy" rating and issued a $49.00 target price (up from $45.00) on shares of LENZ Therapeutics in a report on Thursday. HC Wainwright reissued a "buy" rating and set a $48.00 price objective (up from $38.00) on shares of LENZ Therapeutics in a research note on Monday, July 28th. Piper Sandler began coverage on LENZ Therapeutics in a research note on Monday, April 14th. They set an "overweight" rating and a $51.00 price objective on the stock. Finally, Raymond James Financial boosted their price objective on LENZ Therapeutics from $39.00 to $40.00 and gave the stock an "outperform" rating in a research note on Thursday. Five equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, LENZ Therapeutics has an average rating of "Buy" and a consensus target price of $49.60.

LENZ Therapeutics Company Profile

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.