In a report released today, Matthew Caufield from H.C. Wainwright reiterated a Buy rating on Opus Genetics (IRD – Research Report), with a price target of $8.00.
Matthew Caufield has given his Buy rating due to a combination of factors including Opus Genetics’ strategic focus on developing AAV-based gene therapies for inherited retinal diseases (IRDs). The company is making significant progress with its OPGx-LCA5 program, which targets LCA5-associated retinal disease. Upcoming data presentations at ARVO 2025, including 12-month results from the Phase 1/2 trial and the first pediatric patient data, are expected to be key catalysts.
Additionally, the company is advancing its OPGx-BEST1 candidate, aimed at mutations in the BEST1 gene, with a Phase 1/2 trial initiation planned for 2025. Opus Genetics also benefits from a partnership with Viatris for the development of a phentolamine ophthalmic solution, with pivotal trial results anticipated in 2025. This partnership diversifies their portfolio, even though the primary focus remains on IRDs. The company’s financial position is bolstered by a $20 million public offering and private placement, supporting its ongoing development efforts.
Caufield covers the Healthcare sector, focusing on stocks such as 4D Molecular Therapeutics, Opthea Limited Sponsored ADR, and Opus Genetics. According to TipRanks, Caufield has an average return of -13.1% and a 29.25% success rate on recommended stocks.