H.C. Wainwright reiterates Buy rating on Opus Genetics stock, citing RDH12 alliance

Published 24/07/2025, 12:34
H.C. Wainwright reiterates Buy rating on Opus Genetics stock, citing RDH12 alliance

Investing.com - H.C. Wainwright has reiterated its Buy rating and $8.00 price target on Opus Genetics (NASDAQ:IRD), currently trading at $1.20, following the company’s strategic partnership with the Global RDH12 Alliance. According to InvestingPro data, analyst consensus remains strongly bullish with price targets ranging from $5.00 to $8.00, suggesting significant upside potential.

The partnership aims to advance development of Opus’s gene therapy program targeting retinol dehydrogenase 12 (RDH12) genetic mutations that drive early vision loss. The agreement includes up to $1.6 million in funding toward the OPGx-RDH12 program, plus performance-based milestones. With a market capitalization of $71.6 million and an overall Financial Health score of "Fair" from InvestingPro, the company maintains a solid current ratio of 1.98 and holds more cash than debt on its balance sheet.

The RDH12 gene therapy program addresses potential treatment for Leber congenital amaurosis (RDH12-LCA), a condition causing early vision loss and blindness that can begin in early childhood. Opus Genetics expects to file an Investigational New Drug (IND) application by late 2025.

H.C. Wainwright views the collaboration as validation of support from within the inherited retinal disease (IRD) community, noting that the Global RDH12 Alliance consists of advocacy groups supporting RDH12-related IRDs.

The firm considers the RDH12-LCA program as upside to Opus’s ongoing progress with its partnered phentolamine program with Viatris, Inc., the Phase 1/2 trial of OPGx-LCA5, and Phase 1/2 development for OPGx-BEST1.

In other recent news, Opus Genetics reported positive results from its VEGA-3 Phase 3 trial for Phentolamine Ophthalmic Solution 0.75%, demonstrating significant improvements in treating presbyopia. The trial results showed that 27.2% of patients experienced improved near vision without affecting distance vision, compared to 11.5% in the placebo group. Additionally, the company announced success in its Phase 3 LYNX-2 trial, targeting night vision impairment, where 17.3% of treated patients achieved notable improvements in low-light conditions. Opus Genetics also received RMAT status from the FDA for its gene therapy OPGx-LCA5, intended for Leber Congenital Amaurosis, highlighting promising preliminary data from ongoing trials. In corporate developments, Opus Genetics named Amy Rabourn as the interim principal financial officer following the departure of CFO Nirav Jhaveri. Meanwhile, Lucid (NASDAQ:LCID) Capital Markets initiated coverage of Opus Genetics with a buy rating, citing advancements in the company’s gene therapy pipeline. These developments reflect ongoing progress in Opus Genetics’ clinical trials and corporate strategy.

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