RBC Capital initiated coverage of EyePoint (EYPT) with an Outperform rating and $28 price target The firm thinks the company’s wet age-related macular degeneration pivotal trials are likely to succeed as prior the Phase II is “de-risking” and non-inferiority studies have a high 78% probability of success. With the $10b wet AMD landscape already heading towards longer-acting, EyePoint is poised to further advance this trend and capture 8% market share, the analyst tells investors in a research note. Despite the recent 50% share rally since Phase III enrollment completion, RBC still sees EyePoint shares as undervalued with a $300M enterprise value.
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Read More on EYPT:
- EyePoint reports inducement grants under NASDAQ listing rule
- EyePoint Pharmaceuticals: Strategic Advancements and Promising Developments Support Buy Rating
- EyePoint Completes Enrollment for DURAVYU Phase 3 Trial
- EyePoint completes enrollment in Phase 3 LUGANO trial of DURAVYU
- EyePoint price target lowered to $26 from $30 at Mizuho
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