Mizuho initiated coverage of EyePoint Pharmaceuticals with a Buy rating and $20 price target, which implies over 200% upside. EyePoint is advancing EYP-1901 as a novel treatment for retinal diseases, including wet age-related macular degeneration, and diabetic retinopathy, the analyst tells investors in a research note. The firm says EYP-1901 is differentiated in that it is an eye implant that provides sustained release drug delivery, with potential to be dosed only twice per year. The firm believes it could become a standard-of-care for maintenance treatment.