Analyst Yi Chen of H.C. Wainwright reiterated a Buy rating on EyePoint Pharmaceuticals, retaining the price target of $23.00.
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Yi Chen has given his Buy rating due to a combination of factors surrounding EyePoint Pharmaceuticals’ ongoing clinical trials and future prospects. The independent Data Safety Monitoring Committee (DSMC) has recommended that the Phase 3 trials for DURAVYU, aimed at treating wet AMD, continue as planned without any protocol modifications. This recommendation, which is the second consecutive positive one, underscores the favorable safety profile of DURAVYU, bolstering confidence in its potential success.
Additionally, both the LUGANO and LUCIA trials have completed enrollment, with significant progress in patient dosing and a timeline set for topline data release in 2026. The company’s plans to advance DURAVYU into a Phase 3 program for diabetic macular edema (DME) further enhance its growth potential. This program is based on promising Phase 2 results and aims to address both VEGF-mediated vascular leakage and IL-6 mediated inflammatory drivers of DME. These developments contribute to the optimistic outlook and the reiterated Buy rating with a price target of $23.
Chen covers the Healthcare sector, focusing on stocks such as RegenXBio, Formycon AG, and VolitionRX. According to TipRanks, Chen has an average return of -6.9% and a 39.44% success rate on recommended stocks.
In another report released on November 16, JonesTrading also maintained a Buy rating on the stock with a $43.00 price target.