JonesTrading analyst Debanjana Chatterjee reiterated a Buy rating on EyePoint Pharmaceuticals (EYPT – Research Report) today and set a price target of $45.00.
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Debanjana Chatterjee’s rating is based on the view that the current market reaction to EyePoint Pharmaceuticals’ recent data release is exaggerated. The 24-week data aligned with expectations, showing similar efficacy trends as seen in the previous 16-week results. Despite initial concerns due to an incomplete press release, detailed information provided later indicated no significant issues, with Duravyu showing non-inferiority to Eylea.
Additionally, there are concerns regarding further financing for their pivotal programs in diabetic macular edema (DME) and wet age-related macular degeneration (AMD). However, EyePoint appears to be financially equipped to support these initiatives, particularly if the FDA allows a streamlined approach. The undervaluation of Duravyu’s potential in both wet AMD and DME presents a buying opportunity, especially ahead of important catalysts such as FDA meetings and study completions anticipated in the coming years.