Robert W. Baird analyst Jack Allen maintained a Buy rating on Lineage Therap (LCTX – Research Report) on May 6 and set a price target of $5.00.
Jack Allen has given his Buy rating due to a combination of factors surrounding Lineage Cell Therapeutics’ OpRegen program. The clinical data presented at the Retinal Cell & Gene Therapy Innovation Summit highlighted the treatment’s durability, which is impressive, especially since it maintained its effects for two years following a single administration. This durability is particularly noteworthy in the context of geographic atrophy (GA) patients, where the disease typically progresses with lesion growth and vision function deterioration over time.
Allen notes that the results from the OpRegen Phase 1/2 study not only showed a reduction in lesion sizes but also an improvement in patients’ best-corrected visual acuity (BCVA), demonstrating a clear differentiation from the typical progression of GA. The fact that this benefit is achieved with just one treatment session provides a significant convenience advantage over currently approved products that require regular injections. Despite the small sample size of the Phase 1/2 OpRegen dataset, the positive long-term outcomes, alongside supportive data from similar external cell therapy programs, bolster confidence in OpRegen’s potential as a therapeutic option.
Allen covers the Healthcare sector, focusing on stocks such as Lineage Therap, Bluebird Bio, and Arcellx Inc. According to TipRanks, Allen has an average return of -11.9% and a 33.33% success rate on recommended stocks.
In another report released on May 6, 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.
