H.C. Wainwright analyst Joseph Pantginis has reiterated their bullish stance on LCTX stock, giving a Buy rating on November 10.
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Joseph Pantginis has given his Buy rating due to a combination of factors including the tangible progress made by Lineage Cell Therapeutics in collaboration with their global partner, Roche. The recent $5 million milestone payment from Roche signifies substantial advancements in the OpRegen program, which focuses on treating dry age-related macular degeneration (dry-AMD) and geographic atrophy (GA). This milestone is part of a larger potential $620 million agreement, highlighting the significant commercial opportunity.
Furthermore, the ongoing Phase 2a GAlette study has shown promising results, with improvements in vision and overall patient benefits that are unprecedented in the field. The study’s expansion to 15 sites and the testing of next-generation delivery devices demonstrate a commitment to optimizing the treatment process. These developments, coupled with the RMAT status and additional services agreement with Roche, provide strong support for the continued advancement of OpRegen, justifying the Buy rating.
According to TipRanks, Pantginis is a 4-star analyst with an average return of 4.7% and a 43.56% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Lexicon Pharmaceuticals, Esperion, and Travere Therapeutics.
In another report released on November 10, B. Riley Securities also maintained a Buy rating on the stock with a $3.00 price target.