In a report released today, Yi Chen from H.C. Wainwright reiterated a Buy rating on OKYO Pharma Limited Sponsored ADR, with a price target of $7.00.
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Yi Chen has given his Buy rating due to a combination of factors including the promising results from OKYO Pharma’s Phase 2 trial of urcosimod for treating neuropathic corneal pain (NCP). The trial demonstrated a statistically significant reduction in pain scores for patients treated with 0.05% urcosimod compared to those receiving a placebo, highlighting the potential effectiveness of the treatment.
Additionally, the FDA’s Fast Track designation for urcosimod underscores its potential as a novel therapy for NCP, a condition currently lacking approved treatments. This designation facilitates more frequent interactions with the FDA and could expedite the drug’s development and approval process. These factors collectively support the positive outlook and Buy rating for OKYO Pharma’s stock.
Chen covers the Healthcare sector, focusing on stocks such as Lipocine, Belite Bio, Inc. ADR, and Anixa Biosciences. According to TipRanks, Chen has an average return of -8.3% and a 36.86% success rate on recommended stocks.