Analyst Michael Okunewitch from Maxim Group maintained a Buy rating on Lineage Therap and increased the price target to $3.00 from $1.50.
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Michael Okunewitch has given his Buy rating due to a combination of factors that highlight the potential of Lineage Cell Therapeutics’ OPC1 program. The recent successful dosing of the first patient in the DOSED study marks a significant milestone, as it validates the novel delivery device for spinal cord injury treatment. This study is not only focused on validating the device but also aims to gather comprehensive data across various settings of spinal cord injury, which could open up new expansion opportunities for the company.
Moreover, Lineage has strategically strengthened its financial position, ensuring operational runway into 2027, and has benefited from improved market conditions in the biotech sector, particularly for cell therapies. These factors, combined with a reduced discount rate, have led to an increased 12-month price target for the stock. The promising preclinical and clinical data, along with the potential for further expansion in the treatment of spinal cord injuries, underpin the Buy rating for Lineage’s stock.
In another report released on August 4, H.C. Wainwright also reiterated a Buy rating on the stock with a $9.00 price target.
LCTX’s price has also changed moderately for the past six months – from $0.710 to $0.959, which is a 35.07% increase.