In a report released yesterday, Michael Okunewitch from Maxim Group maintained a Buy rating on Lineage Therap (LCTX – Research Report), with a price target of $1.50.
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Michael Okunewitch has given his Buy rating due to a combination of factors, primarily centered around the promising data from Lineage Cell Therapeutics’ OpRegen program. The recent presentation of 36-month data by their partner Genentech demonstrated sustained improvements in visual acuity and structural benefits in patients, particularly those with extensive bleb coverage. This data suggests that OpRegen could potentially serve as a one-time, disease-modifying treatment for progressive conditions, which significantly enhances its value proposition.
Furthermore, the ongoing enrollment in the Phase 2a GAlette study, aimed at optimizing surgical delivery, underscores the commitment to refining and improving the therapy. The consistent demonstration of benefits at 12, 24, and now 36 months bolsters confidence in the durability and effectiveness of OpRegen. These factors collectively support the Buy rating, as they indicate a strong potential for long-term success and market impact for Lineage Cell Therapeutics.
In another report released on June 23, H.C. Wainwright also reiterated a Buy rating on the stock with a $9.00 price target.