Mizuho lowered the firm’s price target on EyePoint to $30 from $39 and keeps a Buy rating on the shares. The stock fell 43% yesterday following the announcement of worse than expected top-line Phase 2 PAVIA study data for EYP-1901 in non-proliferative diabetic retinopathy, the analyst tells investors in a research note. The firm sees the stock as oversold, with over 100% upside potential from current levels. It believes EyePoint still has opportunity in wet age-related macular degeneration.
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