EyePoint price target raised to $30 from $20 at Mizuho

Mizuho raised the firm’s price target on EyePoint Pharmaceuticals to $30 from $20 and keeps a Buy rating on the shares. The Phase 2 DAVIO 2 study data for lead asset EYP-1901 were “resoundingly positive,” the analyst tells investors in a research note. The firm found the efficacy data for EYP-1901 “impressively strong” across all primary and secondary end points, and the safety data “very clean.” It believes the drug is “meaningfully de-risked,” and its positioning as a potential, best-in-class, tyrosine kinase inhibitor-based maintenance treatment for wet age-related macular degeneration “significantly bolstered.”