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On Friday, H.C. Wainwright reaffirmed its Buy rating and $22.00 price target for EyePoint Pharmaceuticals (NASDAQ:EYPT), whose shares have surged nearly 27% in the past week. The firm’s analyst, Yi Chen, highlighted the company’s recent progress in its Phase 3 program for DURAVYU, a potential treatment for wet age-related macular degeneration (wet AMD (NASDAQ:AMD)). According to InvestingPro data, analysts maintain a strong Buy consensus with price targets ranging from $18 to $68.
Earlier in the week, EyePoint Pharmaceuticals announced that it had surpassed its enrollment target for the LUGANO trial, one of two pivotal non-inferiority trials. The trial is part of the Phase 3 program evaluating DURAVYU, also known as EYP-1901, and has now enrolled over 400 subjects.
The LUGANO trial is significant as it represents the first of the two trials in the Phase 3 program. EyePoint’s management has indicated that they expect to report the topline data from this trial by mid-2026. The LUCIA trial, the second pivotal study, is also progressing towards enrollment completion.
Chen expressed a positive outlook, noting that the quick enrollment reflects the wet AMD community’s enthusiasm for a new treatment option that potentially offers a 6-month redosing interval. This could be a notable improvement over current treatments, which generally require more frequent administration.
The analyst’s reiterated Buy rating and price target suggest confidence in EyePoint Pharmaceuticals’ prospects, particularly as it continues to advance its Phase 3 program for DURAVYU. The company’s shares continue to be watched closely by investors as it progresses through these critical clinical trials.
In other recent news, EyePoint Pharmaceuticals Inc. reported a significant revenue increase for the first quarter of 2025, reaching $24.5 million compared to $11.7 million in the same period last year. The company’s earnings per share (EPS) loss was narrower than expected at $0.65, beating the forecasted loss of $0.67. Despite this positive financial performance, operating expenses rose sharply, impacting the net loss, which stood at $45.2 million. EyePoint Pharmaceuticals is advancing its clinical trials for the Duravyu treatment for wet age-related macular degeneration (wet AMD), with the LUGANO trial having completed patient enrollment, and the LUCIA trial reaching 60% enrollment. The company expects to release topline data from these trials in 2026. Analyst firms have shown mixed reactions; while JPMorgan reiterated an Overweight rating with a $26 price target, Mizuho (NYSE:MFG) Securities adjusted its price target from $30 to $26, maintaining an Outperform rating due to higher-than-expected R&D expenses. Both firms recognize the commercial potential of Duravyu, with Mizuho highlighting EyePoint’s valuation as lower compared to competitors. EyePoint’s current cash position is expected to support operations into 2027, providing stability as it progresses through its clinical milestones.
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