H.C. Wainwright reiterated a Buy rating and $9 price target on Lineage Cell Therapeutics (LCTX), saying the major breakout event the firm is looking for is visibility out of global partner Roche (RHHBY) regarding OpRegen data and next steps. Monday’s $5M milestone represents yet another tangible piece of evidence for Roche’s progress in the OpRegen program for which they have global rights for dry-AMD and geographic atrophy, the analyst tells investors in a research note. The firm added that data, anecdotes, and comps provide significant support that OpRegen is moving into later studies in Roche’s hands.
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