Analyst Matthew Caufield from H.C. Wainwright reiterated a Buy rating on Opus Genetics (IRD – Research Report) and keeping the price target at $8.00.
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Matthew Caufield’s rating is based on the promising advancements in Opus Genetics’ gene therapy pipeline, particularly for inherited retinal diseases. The company is making significant progress with its Phase 1/2 trials for OPGx-LCA5 and OPGx-BEST1, targeting LCA5-associated inherited retinal disease and mutations in the BEST1 gene, respectively. Initial data from these trials, especially the visual acuity improvements observed in adult patients with advanced LCA5 disease, have been encouraging. The durability of these benefits, as presented at a major ophthalmology conference, further supports the potential of these therapies.
Additionally, the strategic partnership with Viatris for the development of a phentolamine ophthalmic solution for presbyopia and mesopic vision disturbances adds another layer of potential value. The upcoming Phase 3 trial results for this partnered asset are expected to draw investor attention, particularly given the large market for presbyopia treatments. These factors collectively reinforce Caufield’s confidence in the company’s prospects, leading to a reiterated Buy rating and an $8 price target.
In another report released on May 7, JonesTrading also reiterated a Buy rating on the stock with a $8.00 price target.