EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives Consensus Rating of “Buy” from Brokerages

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has been given an average recommendation of “Buy” by the six analysts that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have covered the stock in the last year is $34.00.

A number of analysts have recently issued reports on the stock. HC Wainwright lowered their target price on shares of EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, January 16th. JPMorgan Chase & Co. started coverage on EyePoint Pharmaceuticals in a research note on Monday, January 22nd. They set an “overweight” rating and a $35.00 price objective for the company. Mizuho lifted their price target on shares of EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Capital One Financial reaffirmed an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th.

EyePoint Pharmaceuticals Stock Down 43.3 %

Shares of EyePoint Pharmaceuticals stock opened at $11.20 on Tuesday. The stock’s 50-day simple moving average is $21.29 and its 200-day simple moving average is $19.17. EyePoint Pharmaceuticals has a 52 week low of $5.67 and a 52 week high of $30.99. The company has a market capitalization of $583.30 million, a price-to-earnings ratio of -6.12 and a beta of 1.70.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.27. EyePoint Pharmaceuticals had a negative return on equity of 61.48% and a negative net margin of 153.84%. The company had revenue of $14.03 million for the quarter, compared to the consensus estimate of $8.71 million. During the same period in the previous year, the business earned ($0.61) earnings per share. On average, equities analysts expect that EyePoint Pharmaceuticals will post -1.73 earnings per share for the current year.

Insider Transactions at EyePoint Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp purchased 581,765 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were purchased at an average cost of $18.03 per share, with a total value of $10,489,222.95. Following the completion of the acquisition, the insider now owns 7,475,000 shares of the company’s stock, valued at approximately $134,774,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC purchased a new stake in shares of EyePoint Pharmaceuticals in the fourth quarter valued at approximately $27,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter valued at approximately $94,000. Sherbrooke Park Advisers LLC acquired a new stake in EyePoint Pharmaceuticals during the third quarter worth $101,000. Tower Research Capital LLC TRC increased its stake in EyePoint Pharmaceuticals by 36.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock worth $109,000 after acquiring an additional 1,250 shares during the last quarter. Finally, Toth Financial Advisory Corp lifted its stake in shares of EyePoint Pharmaceuticals by 42.9% in the 4th quarter. Toth Financial Advisory Corp now owns 5,000 shares of the company’s stock valued at $116,000 after purchasing an additional 1,500 shares during the last quarter. 99.41% of the stock is owned by hedge funds and other institutional investors.

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.