EyePoint initiated with an Overweight at JPMorgan

JPMorgan analyst Tessa Romero initiated coverage of EyePoint Pharmaceuticals with an Overweight rating and $35 price target. The analyst sees EyePoint as offering a pipeline of indications within a single product built around its approach to sustained delivery via an intravitreal injection with EYP-190. In the lead indication of wet age-related macular degeneration which afflicts at least 1.5M patients in the U.S. alone, EyePoint has recently showcased Phase 2 data that suggest it can possibly be a six-month maintenance treatment option as a new mechanism of action in the paradigm, says the firm.