Citizens Reiterates Market Outperform Rating on Opus Genetics (IRD) Ahead of Trial Data Presentation

Citizens analyst Jonathan Wolleben reiterated a Market Outperform rating and $12.00 price target on Opus Genetics (NASDAQ: IRD).

The analyst commented, "IRD will present six-month pediatric data from the Phase 1/2 study of lead asset OPGx-LCA5 in LCA5, a severe, early-onset retinal degeneration marked by rapid childhood vision loss but preserved retinal architecture into adulthood. OPGx-LCA5 has already shown rapid and durable functional improvements in both adults and pediatric patients, with visual acuity gains as early as one month, durability through 18 months in adults, and numerically greater responses in pediatric patients—supporting the case for earlier intervention. The benefits have been consistent across multiple measurements of vision, with a favorable safety profile. Important to this story is an update on the pivotal trial design, which will help us assess remaining clinical risk. Management has said it expects 12-month duration for the single-arm adaptive design that may be as small as ~8 patients, which we view as a strong signal of FDA flexibility and high likelihood of approval on positive data. We assign OPGx-LCA5 a 60% POS and model peak WW sales of ~ $150M, and note Opus will be eligible for a priority review voucher that we model at $150M, with the most recent selling last week for $180M."

For an analyst ratings summary and ratings history on Opus Genetics click here. For more ratings news on Opus Genetics click here.

Shares of Opus Genetics closed at $5.14 yesterday.

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