Mizuho Securities analyst Graig Suvannavejh has maintained their bullish stance on EYPT stock, giving a Buy rating yesterday.
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Graig Suvannavejh has given his Buy rating due to a combination of factors regarding EyePoint Pharmaceuticals. The recent positive 24-week Phase 2 data for Duravyu in treating diabetic macular edema (DME) played a significant role in this decision. The data highlighted Duravyu’s strong safety profile and its efficacy, which was convincing enough to support its advancement into Phase 3 trials.
Furthermore, the potential for growth is underscored by the DME opportunity, which has not yet been factored into current financial models, suggesting upside potential. Additionally, EyePoint Pharmaceuticals’ valuation remains notably lower than a major competitor, presenting a unique investment opportunity. Despite some initial concerns about efficacy seen at the 24-week mark, these were attributed to an outlier in the data, and confidence remains high in Duravyu’s prospects for success in DME.
In another report released yesterday, Scotiabank also maintained a Buy rating on the stock with a $18.00 price target.
EYPT’s price has also changed moderately for the past six months – from $9.020 to $6.620, which is a -26.61% drop .