H.C. Wainwright Assumes Opus Genetics (IRD) at Buy

H.C. Wainwright analyst Matthew Caufield assumes coverage on Opus Genetics (NASDAQ: IRD) with a Buy rating and a price target of $8.00.

The analyst comments "Turning new page for IRD platform with near-term 2025 catalysts. Informed from the new platform moving forward for Opus Genetics including Leber Congenital Amaurosis (LCA), Best Vitelliform Macular Dystrophy (BEST1), and Retinitis Pigmentosa (RP) indications, we believe inherited retinal disease (IRD) development presents an efficient path to concise studies offering insight into gene therapy efficacy. We believe the additional IRD assets provide a fresh start for the platform, which we are encouraged by from a strategic standpoint. More specifically, we highlight 2025 catalysts that we believe can give the IRD platform the appropriate foundation for continued innovation and development over the near term. For Leber congenital amaurosis-5 candidate OPGx-LCA5, we anticipate initial Phase 1/2 pediatric data in 3Q25, and for Best vitelliform macular dystrophy candidate OPGx-BEST1, we note encouraging IND-enabling POC data are expected to support Phase 1/2 initiation in 2025. Based on the formerly announced acquisition of Opus Genetics and our diligence across the new IRD platform and model, we update our rating from Under Review to Buy and include new developments in: (1) Leber congenital amaurosis-5 (OPGx-LCA5); (2) Best vitelliform macular dystrophy (OPGx-BEST1); and an $8 price target."

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 $1.14 yesterday.

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