Analyst Yi Chen of H.C. Wainwright reiterated a Buy rating on EyePoint Pharmaceuticals (EYPT – Research Report), retaining the price target of $22.00.
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Yi Chen has given his Buy rating due to a combination of factors related to EyePoint Pharmaceuticals’ promising developments and strategic positioning. The company has successfully completed enrollment for the Phase 3 LUGANO trial, which is a significant milestone in the development of DURAVYU (EYP-1901) for treating wet AMD. This rapid enrollment suggests strong interest and potential demand within the medical community for a treatment offering extended dosing intervals.
Furthermore, the ongoing LUCIA trial is progressing well, with expectations to complete enrollment by the third quarter of 2025 and data anticipated in the latter half of 2026. The valuation of EyePoint Pharmaceuticals is supported by a projected market value of $1.48 billion, factoring in a discounted cash flow analysis for DURAVYU, which has a 65% probability of approval. Despite potential risks such as clinical trial failures or market competition, the strategic advancements and financial projections underpin Yi Chen’s confidence in maintaining a Buy rating with a target price of $22 per share.
According to TipRanks, Chen is an analyst with an average return of -13.3% and a 31.84% success rate. Chen covers the Healthcare sector, focusing on stocks such as Vivani Medical, Opko Health, and Clearside Biomedical.
In another report released yesterday, Mizuho Securities also maintained a Buy rating on the stock with a $26.00 price target.
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