Brokerages Set EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) PT at $33.86

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have received an average recommendation of “Buy” from the seven research firms that are covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a buy rating. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $33.86.

A number of research analysts have recently issued reports on EYPT shares. JPMorgan Chase & Co. started coverage on EyePoint Pharmaceuticals in a report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 price target on the stock. Mizuho raised their price objective on EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. HC Wainwright lowered their price objective on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, January 16th. Finally, Capital One Financial reissued an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th.

Insider Activity

In other news, insider Dario A. Paggiarino sold 49,325 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $25.66, for a total value of $1,265,679.50. Following the completion of the transaction, the insider now owns 36,505 shares of the company’s stock, valued at approximately $936,718.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Dario A. Paggiarino sold 5,135 shares of EyePoint Pharmaceuticals stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $25.00, for a total value of $128,375.00. Following the completion of the transaction, the insider now owns 36,505 shares in the company, valued at approximately $912,625. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dario A. Paggiarino sold 49,325 shares of EyePoint Pharmaceuticals stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $25.66, for a total value of $1,265,679.50. Following the completion of the transaction, the insider now owns 36,505 shares of the company’s stock, valued at approximately $936,718.30. The disclosure for this sale can be found here. Insiders sold a total of 56,169 shares of company stock valued at $1,437,509 in the last quarter. 13.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of EYPT. JPMorgan Chase & Co. increased its stake in shares of EyePoint Pharmaceuticals by 41.1% in the 1st quarter. JPMorgan Chase & Co. now owns 15,730 shares of the company’s stock valued at $191,000 after purchasing an additional 4,578 shares in the last quarter. Bank of New York Mellon Corp increased its stake in EyePoint Pharmaceuticals by 5.3% during the 1st quarter. Bank of New York Mellon Corp now owns 79,407 shares of the company’s stock worth $966,000 after buying an additional 3,985 shares in the last quarter. MetLife Investment Management LLC increased its stake in EyePoint Pharmaceuticals by 55.5% during the 1st quarter. MetLife Investment Management LLC now owns 12,835 shares of the company’s stock worth $156,000 after buying an additional 4,582 shares in the last quarter. Rhumbline Advisers increased its stake in EyePoint Pharmaceuticals by 33.8% during the 1st quarter. Rhumbline Advisers now owns 29,463 shares of the company’s stock worth $358,000 after buying an additional 7,438 shares in the last quarter. Finally, BlackRock Inc. increased its stake in EyePoint Pharmaceuticals by 5.9% during the 1st quarter. BlackRock Inc. now owns 1,526,153 shares of the company’s stock worth $18,543,000 after buying an additional 85,522 shares in the last quarter. Hedge funds and other institutional investors own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Stock Up 2.6 %

EYPT opened at $21.84 on Friday. The stock’s fifty day moving average is $24.31 and its two-hundred day moving average is $18.25. The company has a market capitalization of $1.09 billion, a P/E ratio of -11.93 and a beta of 1.64. EyePoint Pharmaceuticals has a 52 week low of $4.22 and a 52 week high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.27. The company had revenue of $14.03 million for the quarter, compared to the consensus estimate of $8.71 million. EyePoint Pharmaceuticals had a negative return on equity of 61.48% and a negative net margin of 153.84%. During the same period last year, the business posted ($0.61) EPS. Equities analysts anticipate that EyePoint Pharmaceuticals will post -1.73 earnings per share for the current year.

About EyePoint Pharmaceuticals

EyePoint Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing therapeutics to improve the lives of patients with serious retinal diseases. The company's pipeline leverages its proprietary bioerodible Durasert E technology for sustained intraocular drug delivery.