Anyone involved in the investing game will know it’s all about ‘stock picking.’ Choosing the right stock to put your money behind is vital to ensure strong returns on an investment. Therefore, when the Wall Street pros consider a name to be a ‘Top Pick,’ investors should take note.
Using the TipRanks platform, we’ve looked up details on two stocks that have recently gotten ‘Top Pick’ designation from some of the Street’s analysts.
So, let’s dive into the details and find out what makes them so. Using a combination of market data, company reports, and analyst commentary, we can get an idea of just what makes these stocks compelling picks for the rest of 2023, and why both are rated as Strong Buys by the analyst consensus.
EyePoint Pharmaceuticals (EYPT)
We’ll start in the biotech sector with EyePoint Pharmaceuticals, a small-cap biopharma company operating at both the clinical and commercial stages. The company is actively developing a new drug for the treatment of several eye conditions, has another product on the market, and has recently sold off a successful commercial product.
EyePoint has two drug delivery platforms, Durasert and Verisome, that allow for injectable, long-term, drug delivery. The first, Durasert, is used with the EYP-1901 drug candidate, a potential treatment for wet age-related macular degeneration (wAMD) and non-proliferative diabetic retinopathy (NPDR). The second platform, Verisome, is used with the commercial-stage product DEXYCU, a drug for the treatment of post-operative inflammation after eye surgeries. The platforms bring the advantage of dosing on a schedule of months, rather than days or hours.
A closer look at EyePoint’s pipeline reveals that the candidate EYP-1901 dominates the company’s research program. This drug is the subject of two leading clinical trials: the DAVIO trial, which focuses on the treatment of wAMD, and the PAVIA trial, which targets NPDR. In late March, EyePoint completed enrollment in the Phase 2 DAVIO trial, which was described as ‘oversubscribed.’ The release of topline data is…