EyePoint Pharmaceuticals (NASDAQ:EYPT) Price Target Cut to $28.00

EyePoint Pharmaceuticals (NASDAQ:EYPT) had its price objective dropped by investment analysts at Chardan Capital from $39.00 to $28.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Chardan Capital’s price target indicates a potential upside of 142.21% from the stock’s current price.

EYPT has been the topic of several other research reports. JPMorgan Chase & Co. assumed coverage on EyePoint Pharmaceuticals in a report on Monday, January 22nd. They set an “overweight” rating and a $35.00 target price on the stock. HC Wainwright cut their price objective on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, January 16th. Capital One Financial reaffirmed an “overweight” rating on shares of EyePoint Pharmaceuticals in a research note on Friday, February 16th. Finally, Mizuho dropped their target price on EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.14.

EyePoint Pharmaceuticals Stock Performance

Shares of EYPT opened at $11.56 on Tuesday. EyePoint Pharmaceuticals has a one year low of $5.67 and a one year high of $30.99. The stock’s fifty day moving average is $20.64 and its 200-day moving average is $19.14. The firm has a market capitalization of $602.09 million, a price-to-earnings ratio of -6.32 and a beta of 1.70.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.27. EyePoint Pharmaceuticals had a negative net margin of 153.84% and a negative return on equity of 61.48%. The firm had revenue of $14.03 million for the quarter, compared to analysts’ expectations of $8.71 million. During the same quarter last year, the company earned ($0.61) EPS. Analysts forecast that EyePoint Pharmaceuticals will post -1.73 EPS for the current fiscal year.

Insider Activity at EyePoint Pharmaceuticals

In related news, major shareholder Cormorant Asset Management, Lp purchased 581,765 shares of EyePoint Pharmaceuticals stock in a transaction on Thursday, April 18th. The stock was purchased at an average cost of $18.03 per share, with a total value of $10,489,222.95. Following the acquisition, the insider now directly owns 7,475,000 shares in the company, valued at $134,774,250. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter worth approximately $27,000. China Universal Asset Management Co. Ltd. bought a new position in EyePoint Pharmaceuticals in the fourth quarter worth $94,000. Sherbrooke Park Advisers LLC bought a new position in EyePoint Pharmaceuticals in the third quarter worth $101,000. Tower Research Capital LLC TRC boosted its stake in EyePoint Pharmaceuticals by 36.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock worth $109,000 after buying an additional 1,250 shares in the last quarter. Finally, Toth Financial Advisory Corp increased its holdings in EyePoint Pharmaceuticals by 42.9% in the 4th quarter. Toth Financial Advisory Corp now owns 5,000 shares of the company’s stock valued at $116,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 99.41% of the company’s stock.

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.