Stock Track | EyePoint Pharmaceuticals Soars 5.49% as RBC Boosts Price Target Amid Clinical Progress

Stock Track
6 hours ago

EyePoint Pharmaceuticals (EYPT) shares are soaring 5.49% in Thursday's intraday trading session, fueled by a bullish analyst update and positive developments in the company's pipeline. The surge comes as investors react to a significant price target upgrade and encouraging progress in clinical trials.

RBC Capital Markets has raised its price target for EyePoint from $28 to $39, representing a substantial 39% increase. The firm maintained its Outperform rating on the stock, albeit with a speculative risk designation. This upgrade aligns with the broader analyst consensus, as FactSet data shows an average "buy" rating for EyePoint, with a mean price target of $35.33.

Adding to the positive sentiment, EyePoint recently released its Q3 earnings report, which highlighted advancements in its DURAVYU program for retinal diseases. The company's progress in clinical trials for this promising treatment appears to be bolstering investor confidence in EyePoint's future prospects. As the biotech firm continues to make strides in developing innovative therapies for eye disorders, market participants seem increasingly optimistic about its potential for growth and success in the competitive pharmaceutical landscape.

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