De-Risked Cell Therapy Platform and Roche Partnership Momentum Underpin Buy Rating on Lineage (LCTX)

In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Lineage Therap, with a price target of $9.00.

Joseph Pantginis has given his Buy rating due to a combination of factors tied to the strategic expansion of Lineage’s cell therapy platform and validation from its partnership with Roche. He views the newly obtained gene-edited hypoimmune iPSC line as a meaningful enhancement to Lineage’s technology base, as it offers starting material that could support allogeneic cell therapies in settings where immune rejection is typically a key limitation. The specific edits designed to reduce both T-cell and NK-cell driven responses, combined with an additional undisclosed disease-focused modification, are seen as important differentiators that could broaden Lineage’s future product opportunities. He also highlights that Lineage’s option for an exclusive license to use and sublicense this cell line strengthens the company’s strategic position and complements its proprietary AlloSCOPE manufacturing platform.
At the same time, Pantginis factors in progress within the OpRegen program partnered with Roche as a key support for the Buy rating. The recent $5 million milestone payment is interpreted as evidence that Roche remains committed and that OpRegen’s manufacturing and clinical development are advancing constructively. He notes the expansion of the GAlette Phase 2a study, including the addition of trial sites, testing of next-generation delivery devices, and RMAT designation, as signals of increasing momentum despite limited public data disclosures. Overall, the combination of a broadened, de-risked platform, active global collaboration with Roche, and continued clinical execution underpins his positive view and justifies the $9 price target and Buy recommendation on LCTX.