Citi analyst Yigal Nochomovitz reiterated a Buy rating and $35.00 price target on EyePoint Inc. (NASDAQ: EYPT), according to a press release statement.

The analyst cited expectations for Phase 3 clinical trial data for DURAVYU in wet age-related macular degeneration (wAMD), with topline results from the LUGANO trial expected in mid-to-late August, followed by the LUCIA trial approximately eight weeks later.

Nochomovitz noted that masked safety data has continued to track in line with DURAVYU's prior four clinical trials, with a discontinuation rate of approximately 6%, which is below the roughly 10% annual average for wAMD trials. The analyst also pointed to three consecutive positive Data Safety Monitoring Committee recommendations.

Shares of EyePoint Inc. closed at $11.67 in the most recent session.