Maxim Group analyst Michael Okunewitch maintained a Buy rating on Lineage Therap (LCTX – Research Report) yesterday and set a price target of $3.00.
Michael Okunewitch has given his Buy rating due to a combination of factors including Lineage Cell Therapeutics’ financial position and ongoing clinical developments. The company reported a net loss for the fourth quarter and full year, but with recent financing, it is well-funded into the future. This financial stability supports its continued investment in promising clinical trials.
Additionally, the collaboration with Genentech on the P2a study and the potential for significant warrant proceeds if the study progresses to a randomized controlled trial are positive indicators. The initiation of the DOSED study for OPC1 at UC San Diego Health, targeting spinal cord injuries, also presents a significant opportunity for Lineage. The study not only aims to ensure safety but also explores functional improvements, which could lead to further evaluations and potential advancements in treatment options. These strategic developments and partnerships contribute to the optimistic outlook for Lineage, justifying the Buy rating.
In another report released yesterday, Craig-Hallum also maintained a Buy rating on the stock with a $3.00 price target.
LCTX’s price has also changed moderately for the past six months – from $0.865 to $0.532, which is a -38.50% drop .
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