Analyst Matthew Caufield of H.C. Wainwright reiterated a Buy rating on Opus Genetics, retaining the price target of $8.00.
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Matthew Caufield has given his Buy rating due to a combination of factors, primarily focusing on the promising advancements in Opus Genetics’ inherited retinal disease platform. The positive results from the OPGx-LCA5 trials, which include improvements in visual acuity and retinal sensitivity, have been particularly encouraging. These developments are significant given the severe vision loss associated with Leber congenital amaurosis Type 5 (LCA5) from birth.
Moreover, the company’s successful Type B Regenerative Medicine Advanced Therapy meeting with the FDA suggests a potentially accelerated development path for OPGx-LCA5. The planned advancement into a Phase 3 trial with a small patient cohort further underscores the potential of this treatment for ultra-rare genetic diseases. Additionally, the progress in the OPGx-BEST1 trial targeting mutations in the BEST1 gene adds to the overall positive outlook for the company’s platform, supporting the reiterated Buy rating and $8 price target.
In another report released yesterday, Wedbush also reiterated a Buy rating on the stock with a $8.00 price target.