EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives $34.00 Consensus Target Price from Analysts

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has received a consensus recommendation of “Buy” from the seven analysts that are covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $34.14.

Several brokerages have recently weighed in on EYPT. StockNews.com downgraded shares of EyePoint Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday. HC Wainwright decreased their target price 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. JPMorgan Chase & Co. started coverage on shares of EyePoint Pharmaceuticals in a research note on Monday, January 22nd. They set an “overweight” rating and a $35.00 target price for the company. 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 shares of EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday.

EyePoint Pharmaceuticals Trading Up 9.6 %

Shares of NASDAQ:EYPT opened at $12.67 on Tuesday. The company has a market cap of $659.90 million, a price-to-earnings ratio of -6.92 and a beta of 1.70. EyePoint Pharmaceuticals has a 12 month low of $5.67 and a 12 month high of $30.99. The company has a 50-day moving average price of $20.34 and a 200 day moving average price of $19.10.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.60) by $0.27. The business had revenue of $14.03 million during the quarter, compared to analyst estimates 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 company earned ($0.61) EPS. As a group, equities analysts forecast that EyePoint Pharmaceuticals will post -1.73 EPS for the current year.

Insider Buying and Selling at EyePoint Pharmaceuticals

In related news, major shareholder Cormorant Asset Management, Lp acquired 581,765 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 7,475,000 shares of the company’s stock, valued at approximately $134,774,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.05% of the stock is owned by insiders.

Institutional Trading of EyePoint Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new position in shares of EyePoint Pharmaceuticals in the fourth quarter worth about $27,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter worth $94,000. Sherbrooke Park Advisers LLC acquired a new position in shares of EyePoint Pharmaceuticals during the third quarter worth $101,000. Tower Research Capital LLC TRC increased its holdings in EyePoint Pharmaceuticals by 36.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock valued at $109,000 after buying an additional 1,250 shares during the last quarter. Finally, Toth Financial Advisory Corp raised its stake in EyePoint Pharmaceuticals by 42.9% in the fourth 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 in the last quarter. 99.41% of the stock is owned by institutional investors and hedge funds.

EyePoint Pharmaceuticals Company Profile

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.