B.Riley Financial analyst Mayank Mamtani reiterated a Buy rating on Lineage Therap (LCTX – Research Report) today and set a price target of $4.00.
Mayank Mamtani has given his Buy rating due to a combination of factors, including the strength of recent clinical trial results for Lineage Cell Therapeutics. Mamtani’s assessment is largely influenced by the impressive 24-month data from the Phase I/IIa trial of OpRegen, which showed notable improvements in visual acuity and anatomical biomarkers in patients with geographic atrophy (GA) due to age-related macular degeneration (AMD). The sustained positive outcomes, particularly in patients with extensive OpRegen coverage, suggest potential for disease reversal and a promising future for the treatment.
Additionally, Mamtani’s confidence in Lineage Cell Therapeutics is bolstered by the commitment from the company’s partner, Roche, which remains strong despite broader strategic pipeline reviews. This partnership’s steadfastness, coupled with the comparative advantage of OpRegen over existing complement-targeted drugs, underpins the optimistic projection of its market potential. The continued development and optimization of OpRegen’s delivery in ongoing trials, aiming to maximize safety and efficacy, further support Mamtani’s positive outlook and Buy rating for LCTX with a $4.00 price target.
According to TipRanks, Mamtani is an analyst with an average return of -20.7% and a 22.40% success rate. Mamtani covers the Healthcare sector, focusing on stocks such as Denali Therapeutics, Agenus, and Altimmune.
In another report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $7.00 price target.
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Lineage Therap (LCTX) Company Description:
Lineage Cell Therapeutics, Inc. operates as a clinical-stage biotechnology company developing new cellular therapies for degenerative retinal diseases, neurological conditions associated with demyelination, and aiding the body in detecting and combating cancer. The company’s programs are based on two core proprietary technology platforms: cell replacement and cell and drug delivery. Its cell replacement platform creates new cells and tissues with its pluripotent and progenitor cell technologies. The company’s cell and drug delivery programs are based upon its proprietary HyStem cell and drug delivery matrix technology. It engages in the research and development of regenerative medicine or therapeutic products for advancement in the field of oncology, orthopedics, retinal and neurological diseases and disorders, blood and vascular system diseases and disorders, blood plasma volume expansion, diagnostic products for the early detection of cancer and hydrogel products that may be used in surgery and products for human embryonic stem cell research. The company was founded by Judith Segall, Hal Sternberg, Paul E. Segall and Harold D. Waitz on November 30, 1990 and is headquartered in Alameda, CA.
