Published on 7 Jul 2022 on Benzinga via Yahoo Finance
Chardan Forecasts Over 160% Upside On This Eye Disease-Focused Stock
Chardan has initiated coverage on EyePoint Pharmaceuticals Inc (NASDAQ: EYPT) with a Buy rating and a price target of $21 based on the company's commercial potential with its lead EYP-1901 for Wet Age-related macular degeneration (AMD).The price target represents an upside of over 160%.The lead program utilizes a bioerodible Durasert formulation. Durasert technology is a micro-implant that can be injected intravitreally in an office setting.Related: EyePoint, Expands Pact With Betta Pharma For EYP-1901 In China, Posts Deeper Q1 Loss.Once injected, it releases a therapeutic at a controlled rate over an extended period, from weeks to months.Chardan writes that Durasert technology is well-validated, with four products approved to date.Durasert provides for zero-order release kinetics, meaning that vorolanib is released at a nearly constant rate over the implant's life.Price Action: EYPT shares are up 2.37% at $7.98 during the market session on the last check Thursday.
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