Opthea Limited Sponsored ADR (OPT – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Debanjana Chatterjee from JonesTrading reiterated a Buy rating on the stock and has a $13.00 price target.
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Debanjana Chatterjee’s rating is based on several promising developments within Opthea Limited’s clinical trials and financial standing. The company has successfully completed the final patient visit in the COAST trial, which is part of its Phase 3 evaluations for sozinibercept in treating wet age-related macular degeneration (AMD). Upcoming topline data from the COAST trial, as well as the ShORe trial, are expected in 2025, and previous Phase 2 results have shown significant vision improvements with sozinibercept in combination with ranibizumab.
Although there is speculation about the comparative efficacy of aflibercept and ranibizumab, with some suggesting aflibercept might be superior, most trials have found them to be equivalent. This positions sozinibercept well for success in ongoing trials. Additionally, Opthea’s strong cash position as of September 2024 ensures that it is well-funded to continue its operations and research, providing a solid financial foundation. These factors contribute to the optimistic outlook and the Buy rating given by Debanjana Chatterjee.