In a report released today, Debanjana Chatterjee from JonesTrading maintained a Buy rating on EyePoint Pharmaceuticals, with a price target of $43.00.
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Debanjana Chatterjee’s rating is based on EyePoint Pharmaceuticals’ strong regulatory and clinical positioning, particularly with its candidate Duravyu in the wet AMD landscape. The company is conducting two large, well-controlled Phase 3 trials, LUGANO and LUCIA, which are designed to meet familiar regulatory standards and enhance the likelihood of success. This strategic approach aligns with the FDA’s guidance, potentially allowing for approval based on a single Phase 3 trial, which could expedite the regulatory process.
Additionally, the unmet need in the wet AMD market, as highlighted by a key opinion leader, underscores the potential impact of Duravyu. Current treatments like Vabysmo and Eylea HD have limited durability, and economic constraints further limit their accessibility. EyePoint’s candidate aims to address these gaps, offering a more durable solution that could significantly improve patient outcomes and reduce economic strain, thereby justifying the Buy rating.
In another report released on December 9, Mizuho Securities also reiterated a Buy rating on the stock with a $33.00 price target.
Based on the recent corporate insider activity of 20 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.