Yi Chen, an analyst from H.C. Wainwright, reiterated the Buy rating on EyePoint Pharmaceuticals. The associated price target remains the same with $23.00.
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Yi Chen has given his Buy rating due to a combination of factors related to EyePoint Pharmaceuticals’ lead asset DURAVYU and the company’s financial position. The Phase 3 wet AMD program is advancing on schedule, with both pivotal trials (LUGANO and LUCIA) fully enrolled, aligned with FDA and EMA expectations, and cleared twice by an independent safety committee to continue without changes, which supports confidence in the program’s integrity and potential outcomes. In addition, topline data from these pivotal wet AMD trials are expected in mid-2026, creating a defined value-creation catalyst, while the trial design and primary visual acuity endpoint are structured to demonstrate non-inferiority versus the standard-of-care aflibercept.
Yi Chen’s positive stance is further supported by the planned Phase 3 initiation of DURAVYU in diabetic macular edema, which is grounded in favorable Phase 2 VERONA data and structured as two parallel non-inferiority trials (COMO and CAPRI) with twice‑yearly dosing. The mechanism of action, targeting both VEGF-driven vascular leakage and IL‑6–mediated inflammation, underpins the belief that DURAVYU could have differentiated clinical utility in DME. From a valuation standpoint, the Buy rating reflects a DCF-based assessment that assigns significant value to DURAVYU under a 70% probability of approval, alongside a substantial cash balance of roughly $300M that extends the operating runway into the fourth quarter of 2027, thereby reducing near‑term financing risk and supporting the $23 price target. Risks around clinical, regulatory, commercial execution, and dilution are acknowledged but viewed as adequately compensated by the current risk‑reward profile.
According to TipRanks, Chen is a 3-star analyst with an average return of 1.2% and a 44.74% success rate. Chen covers the Healthcare sector, focusing on stocks such as Alpha Tau Medical Ltd, Formycon AG, and EyePoint Pharmaceuticals.
In another report released yesterday, Mizuho Securities also reiterated a Buy rating on the stock with a $33.00 price target.