EyePoint Pharmaceuticals (NASDAQ:EYPT) Receives New Coverage from Analysts at Jefferies Financial Group

Equities researchers at Jefferies Financial Group assumed coverage on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. The firm set a “buy” rating and a $15.00 price target on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 72.02% from the stock’s current price.

EYPT has been the subject of a number of other reports. JPMorgan Chase & Co. decreased their price objective on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of EyePoint Pharmaceuticals in a research report on Thursday, June 27th. Chardan Capital reaffirmed a “buy” rating and issued a $28.00 price target on shares of EyePoint Pharmaceuticals in a research note on Friday, June 28th. Cantor Fitzgerald reissued an “overweight” rating on shares of EyePoint Pharmaceuticals in a research note on Thursday, June 20th. Finally, StockNews.com cut shares of EyePoint Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $30.63.

EyePoint Pharmaceuticals Trading Down 1.1 %

Shares of NASDAQ EYPT opened at $8.72 on Wednesday. EyePoint Pharmaceuticals has a 1 year low of $5.67 and a 1 year high of $30.99. The firm’s 50-day moving average is $8.88 and its 200-day moving average is $15.05. The firm has a market capitalization of $454.17 million, a PE ratio of -4.79 and a beta of 1.58.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). The business had revenue of $9.48 million during the quarter, compared to the consensus estimate of $11.61 million. EyePoint Pharmaceuticals had a negative net margin of 172.29% and a negative return on equity of 43.24%. As a group, equities research analysts anticipate that EyePoint Pharmaceuticals will post -2.33 earnings per share for the current fiscal year.

Insider Activity

In related news, Director David R. Guyer sold 11,625 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $10.06, for a total transaction of $116,947.50. Following the completion of the sale, the director now directly owns 1,850 shares of the company’s stock, valued at approximately $18,611. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.74% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. increased its holdings in EyePoint Pharmaceuticals by 11.8% during the 4th quarter. Franklin Resources Inc. now owns 4,640,651 shares of the company’s stock worth $107,245,000 after purchasing an additional 488,206 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of EyePoint Pharmaceuticals by 17.8% during the first quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock worth $49,530,000 after buying an additional 362,168 shares during the period. RA Capital Management L.P. bought a new position in shares of EyePoint Pharmaceuticals during the first quarter worth about $19,401,000. Deerfield Management Company L.P. Series C raised its position in EyePoint Pharmaceuticals by 51.4% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock valued at $7,637,000 after buying an additional 298,196 shares during the last quarter. Finally, Fiera Capital Corp raised its position in EyePoint Pharmaceuticals by 0.9% in the 2nd quarter. Fiera Capital Corp now owns 677,038 shares of the company’s stock valued at $5,890,000 after buying an additional 5,920 shares during the last quarter. 99.41% of the stock is currently 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.