Chardan Capital Forecasts Strong Price Appreciation for Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock

Eyepoint Pharmaceuticals (NASDAQ:EYPT) had its price target increased by analysts at Chardan Capital from $27.00 to $29.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Chardan Capital’s price objective points to a potential upside of 60.75% from the company’s previous close.

A number of other brokerages also recently weighed in on EYPT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Thursday, January 22nd. Royal Bank Of Canada increased their target price on shares of Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Cantor Fitzgerald raised shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, November 25th. Finally, TD Cowen upgraded shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research report on Friday, December 19th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $29.75.

Eyepoint Pharmaceuticals Stock Performance

NASDAQ:EYPT traded down $0.28 during mid-day trading on Wednesday, hitting $18.04. The company had a trading volume of 1,140,845 shares, compared to its average volume of 1,404,798. Eyepoint Pharmaceuticals has a fifty-two week low of $3.91 and a fifty-two week high of $19.11. The firm has a market cap of $1.49 billion, a P/E ratio of -6.03 and a beta of 1.72. The business’s fifty day moving average is $15.76 and its two-hundred day moving average is $14.28.

Insider Activity

In related news, insider Ramiro Ribeiro sold 42,544 shares of Eyepoint Pharmaceuticals stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $17.10, for a total value of $727,502.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 4.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EYPT. Nisa Investment Advisors LLC boosted its stake in Eyepoint Pharmaceuticals by 1,636.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock valued at $27,000 after purchasing an additional 2,733 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Eyepoint Pharmaceuticals in the third quarter valued at about $50,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Eyepoint Pharmaceuticals by 51.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock valued at $74,000 after acquiring an additional 1,358 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Eyepoint Pharmaceuticals by 20.6% during the 4th quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock worth $85,000 after purchasing an additional 794 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in shares of Eyepoint Pharmaceuticals in the third quarter valued at approximately $76,000. Institutional investors and hedge funds own 99.41% of the company’s stock.

About Eyepoint Pharmaceuticals

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.