EyePoint Pharmaceuticals (NASDAQ:EYPT) Price Target Cut to $28.00

EyePoint Pharmaceuticals (NASDAQ:EYPT) had its target price reduced by Chardan Capital from $39.00 to $28.00 in a research report released on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

Other analysts also recently issued reports about the company. HC Wainwright decreased their price objective on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a buy rating for the company in a report on Tuesday, January 16th. Capital One Financial reiterated an overweight rating on shares of EyePoint Pharmaceuticals in a research note on Friday, February 16th. JPMorgan Chase & Co. initiated coverage on EyePoint Pharmaceuticals in a research note on Monday, January 22nd. They issued an overweight rating and a $35.00 target price on the stock. Finally, Mizuho cut their target price on EyePoint Pharmaceuticals from $39.00 to $30.00 and set a buy rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, EyePoint Pharmaceuticals currently has a consensus rating of Moderate Buy and a consensus target price of $33.50.

EyePoint Pharmaceuticals Price Performance

EYPT stock opened at $11.87 on Tuesday. The business has a 50-day moving average price of $20.96 and a 200 day moving average price of $19.20. The company has a market capitalization of $618.19 million, a P/E ratio of -6.49 and a beta of 1.70. EyePoint Pharmaceuticals has a 1-year low of $5.67 and a 1-year high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings data on Thursday, March 7th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.27. The firm had revenue of $14.03 million during the quarter, compared to the consensus estimate of $8.71 million. EyePoint Pharmaceuticals had a negative return on equity of 61.48% and a negative net margin of 153.84%. During the same period in the previous year, the company posted ($0.61) earnings per share. On average, analysts anticipate that EyePoint Pharmaceuticals will post -1.73 earnings per share for the current fiscal year.

Insider Buying and Selling at EyePoint Pharmaceuticals

In other EyePoint Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp purchased 581,765 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were acquired at an average price of $18.03 per share, for a total transaction of $10,489,222.95. Following the completion of the purchase, the insider now owns 7,475,000 shares of the company’s stock, valued at $134,774,250. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 13.05% of the stock is owned by insiders.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of large investors have recently modified their holdings of the business. FNY Investment Advisers LLC purchased a new position in EyePoint Pharmaceuticals during the 4th quarter worth approximately $27,000. China Universal Asset Management Co. Ltd. acquired a new stake in shares of EyePoint Pharmaceuticals in the fourth quarter worth $94,000. Sherbrooke Park Advisers LLC purchased a new position in shares of EyePoint Pharmaceuticals during the third quarter worth $101,000. Tower Research Capital LLC TRC lifted its position 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 valued at $109,000 after purchasing an additional 1,250 shares during the period. Finally, Toth Financial Advisory Corp boosted its holdings in EyePoint Pharmaceuticals by 42.9% in the fourth 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. Hedge funds and other institutional investors own 99.41% of the company’s stock.

About EyePoint Pharmaceuticals

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.