Eyepoint Pharmaceuticals (NASDAQ:EYPT) Coverage Initiated at Stifel Nicolaus

Investment analysts at Stifel Nicolaus started coverage on shares of Eyepoint Pharmaceuticals (NASDAQ:EYPT) in a note issued to investors on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $40.00 price target on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 188.81% from the stock’s previous close.

EYPT has been the subject of several other reports. Guggenheim reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, June 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, April 21st. Royal Bank Of Canada cut their price target 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. Cantor Fitzgerald initiated coverage on shares of Eyepoint Pharmaceuticals in a report on Wednesday, July 8th. They issued an “overweight” rating and a $47.00 price target for the company. Finally, Chardan Capital boosted their price objective on shares of Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.75.

Eyepoint Pharmaceuticals Price Performance

Shares of NASDAQ:EYPT opened at $13.85 on Thursday. The business’s 50-day moving average is $13.27 and its 200 day moving average is $14.28. Eyepoint Pharmaceuticals has a 1 year low of $9.40 and a 1 year high of $19.11. The firm has a market capitalization of $1.16 billion, a P/E ratio of -3.96 and a beta of 1.73.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.20). Eyepoint Pharmaceuticals had a negative net margin of 3,566.63% and a negative return on equity of 110.54%. The business had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.35 million. On average, analysts expect that Eyepoint Pharmaceuticals will post -3.22 EPS for the current year.

Insider Activity at Eyepoint Pharmaceuticals

In related news, insider Ramiro Ribeiro sold 2,437 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $15.00, for a total value of $36,555.00. The sale was disclosed in a document filed with the SEC, which is available at this link. 5.13% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. KBC Group NV purchased a new position in shares of Eyepoint Pharmaceuticals during the 1st quarter valued at about $29,000. Mirae Asset Global Investments Co. Ltd. boosted 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 worth $74,000 after buying an additional 1,358 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Eyepoint Pharmaceuticals in the third quarter worth about $76,000. Tower Research Capital LLC TRC grew its holdings in Eyepoint Pharmaceuticals by 218.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock worth $82,000 after acquiring an additional 5,967 shares during the period. Finally, California State Teachers Retirement System raised its position in Eyepoint Pharmaceuticals by 20.6% during the fourth quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock valued at $85,000 after acquiring an additional 794 shares in the last quarter. 99.41% of the stock is currently owned by institutional investors and hedge funds.

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.