Jul. 29 at 11:22 AM
Mizuho⬆️its Top Pick
$EYPT's PT to
$39 from
$36;⬆️Duravyu's PoS and reiterated an Outperform rating ahead of next month's expected top-line data.
$OCUL $SRZN REGN RHHBY FDMT KOD
Mizuho said -- Next month, we expect EYPT to report top-line P3 LUGANO data, the first readout from two identical, pivotal, non-inferiority studies evaluating Duravyu (the co's tyrosine kinase inhibitor/TKI-based maintenance therapy) in wet AMD/WAMD (with P3 LUCIA data expected to follow shortly after).
Ahead of data, we raise our PT to
$39 (vs.
$36 prior), based on an increase in our POS assumption to 75% (vs. 70% prior), following recent channel checks with KOLs and investors.
Additionally, we preview the opportunity, where we continue to see a favorable setup.
Bigger picture, we believe Duravyu is positioned to become a best-in-class TKI product for wAMD, and seeing meaningful stock upside in what we view to be a de-risked opportunity, we stay OP-rated on EYPT, a Mizuho Top Pick.
