Analyst Graig Suvannavejh of Mizuho Securities reiterated a Buy rating on EyePoint Pharmaceuticals (EYPT – Research Report), retaining the price target of $39.00.
Graig Suvannavejh has given his Buy rating due to a combination of factors including the anticipation of positive Phase 2 PAVIA study data for EyePoint Pharmaceuticals’ leading asset, EYP-1901 (Duravyu), in the treatment of non-proliferative diabetic retinopathy (NPDR). The optimism is partly rooted in the previous positive Phase 2 DAVIO 2 data for the same drug in wet age-related macular degeneration (wet AMD), suggesting potential for similar outcomes in NPDR, which could lead to a 10-15% stock upside. Moreover, Suvannavejh sees the current share price pullback as an opportunity, presenting an attractive risk/reward profile for investors.
The report also underscores EYP-1901’s innovative approach as a bio-erodible intravitreal implant designed for sustained release, which could position it as a best-in-class maintenance therapy for wet AMD and a new first-line standard of care for NPDR and diabetic macular edema (DME). These indications represent significant label expansion and revenue opportunities. EyePoint Pharmaceuticals’ drug could potentially address the limitations of existing treatments that require frequent injections, marking a notable improvement in the standard of care. The expected release of the PAVIA study data bolsters the belief in EYPT’s potential, despite the presence of a bear thesis that has recently affected the stock’s performance.
In another report released on April 12, Capital One Financial also maintained a Buy rating on the stock with a $50.00 price target.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EYPT in relation to earlier this year.
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EyePoint Pharmaceuticals (EYPT) Company Description:
EyePoint Pharmaceuticals, Inc. is a biopharmaceutical company. It engages in the development and commercializing of ophthalmic products. It offers FDA-approved sustained-release treatments in ophthalmology under the DEXYCU, ILUVIEN, Verisome, Retisert, and Durasert brands. The company was founded in 1987 and is headquartered in Watertown, MA.
Read More on EYPT:
- EyePoint Pharmaceuticals Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
- EyePoint reports inducement grants under Nasdaq listing rule
- EyePoint should be bought on recent weakness, says Mizuho
- EyePoint Pharmaceuticals Expands Scientific Advisory Board with World-Renowned Retina Specialists
- EyePoint expands scientific advisory board with three appointments
