EyePoint Pharmaceuticals (EYPT) Stock Forecast & Price Target

EyePoint is supported by a differentiated sustained-release retinal disease platform, with DURAVYU and the Durasert E-based EYP-2301 addressing major unmet needs through less burdensome treatment and improved visual outcomes. The upside case implies meaningful optionality from 20% PoS for wet AMD, 60% for DME, 100% for Yutiq, and 20% for the platform, reflecting a pipeline whose value can compound if clinical and regulatory signals strengthen. Key catalysts include positive topline data from the Phase III COMO/CAPRI DME trials in 4Q27, possible FDA openness to a wet AMD path based on pooled LUGANO/LUCIA data and secondary endpoints, and a partnership, licensing deal, or non-dilutive financing that could extend runway beyond the DME readout.

EyePoint is facing a severe fundamental setback because two pivotal wet AMD trials, LUGANO and LUCIA, both missed the non-inferiority endpoint versus aflibercept, with LUCIA showing a -3.7-letter treatment difference and the stock falling 85% at market close after the miss. Management is ending the wet AMD program early, cutting about 53% of the workforce and taking roughly $9M of separation charges, which underscores how little confidence remains in near-term commercialization and why the NDA path in wet AMD is effectively closed. Although the company has $118M in cash and runway into 4Q27, the investment case now hinges on DME readouts in 4Q27 after prior misses in NPDR and wet AMD, leaving the shares vulnerable to a prolonged clinical and regulatory overhang.