Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives $44.38 Consensus PT from Analysts

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have received an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $44.3750.

A number of research firms have weighed in on EYPT. Stifel Nicolaus started coverage on Eyepoint Pharmaceuticals in a research note on Thursday, July 16th. They set a “buy” rating and a $40.00 price objective for the company. Cantor Fitzgerald upped their target price on Eyepoint Pharmaceuticals from $47.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Guggenheim reissued a “buy” rating and issued a $68.00 price target on shares of Eyepoint Pharmaceuticals in a report on Wednesday, June 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Friday, July 17th. Finally, Royal Bank Of Canada dropped their price objective on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th.

Institutional Trading of Eyepoint Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EYPT. Suvretta Capital Management LLC increased its position in shares of Eyepoint Pharmaceuticals by 26.4% during the fourth quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock worth $143,012,000 after acquiring an additional 1,634,970 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in shares of Eyepoint Pharmaceuticals by 9.7% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock valued at $63,988,000 after buying an additional 600,000 shares during the period. Federated Hermes Inc. grew its position in shares of Eyepoint Pharmaceuticals by 36.3% during the fourth quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock worth $109,938,000 after buying an additional 1,601,101 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Eyepoint Pharmaceuticals by 19.3% during the fourth quarter. Franklin Resources Inc. now owns 4,976,915 shares of the company’s stock worth $90,928,000 after buying an additional 805,031 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Eyepoint Pharmaceuticals by 27.1% during the fourth quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock worth $88,100,000 after buying an additional 1,027,623 shares during the period. Institutional investors and hedge funds own 99.41% of the company’s stock.

Eyepoint Pharmaceuticals Trading Up 3.7%

NASDAQ:EYPT opened at $13.53 on Monday. The company has a market cap of $1.17 billion, a PE ratio of -3.62 and a beta of 1.76. Eyepoint Pharmaceuticals has a twelve month low of $9.65 and a twelve month high of $19.11. The company’s 50 day moving average is $13.14 and its two-hundred day moving average is $13.71.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.08). Eyepoint Pharmaceuticals had a negative return on equity of 135.81% and a negative net margin of 10,994.73%.The company had revenue of $0.51 million during the quarter, compared to analysts’ expectations of $0.45 million. As a group, analysts expect that Eyepoint Pharmaceuticals will post -3.46 EPS for the current fiscal year.

Eyepoint Pharmaceuticals Company Profile

Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company’s proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint’s commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.

Eyepoint’s lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.