EyePoint price target raised to $28 from $26 at Mizuho

Mizuho raised the firm’s price target on EyePoint (EYPT) to $28 from $26 and keeps an Outperform rating on the shares. The firm notes the company reported Q2 results last week, where highlights included the previously announced enrollment completion in the second Phase 3 LUCIA study for Duravyu and, on Q2 results, lower OpEx. Mizuho continues to favor EyePoint in the highly competitive wet AMD/wAMD space, given its view that the company has a more robust set of Phase 2 data to support the potential of Duravyu; has a more straightforward pivotal Phase 3 clinical development program, one that is more representative of use in the real world; and finds itself in the pole position with respect to when the first TKI-based product for wAMD might get approved.