OYST - Oyster Point stock rises 11% after H.C. Wainwright begins coverage with Buy rating
- Oyster Point Pharma ( NASDAQ: OYST ) is trading ~11% higher after H.C. Wainwright initiated coverage with a Buy rating and a price target of $20.
- H.C. Wainwright analyst Matthew Caufield said the company has a "differentiated" dry eye nasal spray approval complemented by neurotrophic keratopathy development.
- The analyst said in an investor note the dry eye disease and neurotrophic keratopathy nasal spray programs can benefit from readthrough based on trigeminal parasympathetic pathway activation for increased basal tear film production.
- Stock has been down 71% in the last 12 months.
- Quant Rating analysts on average rated OYST Strong Buy, with an average price target of $1.11.
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Oyster Point stock rises 11% after H.C. Wainwright begins coverage with Buy rating