Analysts Set EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Price Target at $33.71

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have been given an average rating of “Buy” by the seven analysts that are covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have covered the stock in the last year is $33.29.

A number of research firms have recently weighed in on EYPT. HC Wainwright cut their target price on EyePoint Pharmaceuticals from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, May 13th. StockNews.com cut shares of EyePoint Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Mizuho reduced their price objective 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, May 7th. Capital One Financial restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th. Finally, Chardan Capital reduced their price target on shares of EyePoint Pharmaceuticals from $39.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th.

EyePoint Pharmaceuticals Stock Performance

NASDAQ:EYPT opened at $9.79 on Friday. EyePoint Pharmaceuticals has a 52 week low of $5.67 and a 52 week high of $30.99. The firm’s 50-day simple moving average is $16.04 and its 200 day simple moving average is $19.87. The firm has a market cap of $509.86 million, a price-to-earnings ratio of -5.38 and a beta of 1.59.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results on Wednesday, May 8th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.21). The business had revenue of $11.68 million for the quarter, compared to the consensus estimate of $12.50 million. EyePoint Pharmaceuticals had a negative return on equity of 49.94% and a negative net margin of 157.77%. Sell-side analysts anticipate that EyePoint Pharmaceuticals will post -2.14 EPS for the current year.

Insider Activity at EyePoint Pharmaceuticals

In related news, major shareholder Cormorant Asset Management, Lp acquired 850,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $11.86 per share, with a total value of $10,081,000.00. Following the purchase, the insider now directly owns 8,325,000 shares in the company, valued at $98,734,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director David R. Guyer sold 11,625 shares of EyePoint Pharmaceuticals stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $12.65, for a total transaction of $147,056.25. Following the sale, the director now directly owns 5,550 shares of the company’s stock, valued at $70,207.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Cormorant Asset Management, Lp acquired 850,000 shares of the stock in a transaction dated Monday, May 6th. The stock was purchased at an average cost of $11.86 per share, with a total value of $10,081,000.00. Following the purchase, the insider now directly owns 8,325,000 shares of the company’s stock, valued at $98,734,500. The disclosure for this purchase can be found here. 4.74% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its stake in shares of EyePoint Pharmaceuticals by 11.9% during the third quarter. Bank of New York Mellon Corp now owns 115,690 shares of the company’s stock valued at $924,000 after acquiring an additional 12,309 shares during the last quarter. Jump Financial LLC raised its position in EyePoint Pharmaceuticals by 318.5% during the 3rd quarter. Jump Financial LLC now owns 48,968 shares of the company’s stock worth $391,000 after purchasing an additional 37,268 shares during the last quarter. Barclays PLC raised its position in EyePoint Pharmaceuticals by 103.4% during the 3rd quarter. Barclays PLC now owns 45,659 shares of the company’s stock worth $365,000 after purchasing an additional 23,208 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in EyePoint Pharmaceuticals during the 3rd quarter worth about $140,000. Finally, UBS Group AG grew its position in shares of EyePoint Pharmaceuticals by 487.6% in the 3rd quarter. UBS Group AG now owns 526,848 shares of the company’s stock valued at $4,210,000 after buying an additional 437,190 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.