EyePoint Pharmaceuticals (NASDAQ:EYPT) Price Target Cut to $30.00

EyePoint Pharmaceuticals (NASDAQ:EYPT) had its price target cut by Mizuho from $39.00 to $30.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also issued reports on EYPT. JPMorgan Chase & Co. assumed coverage on shares of EyePoint Pharmaceuticals in a research note on Monday, January 22nd. They issued an overweight rating and a $35.00 target price 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 on the stock in a research note on Tuesday, January 16th. Finally, Capital One Financial reiterated an overweight rating on shares of EyePoint Pharmaceuticals in a research note on Friday, February 16th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $33.50.

EyePoint Pharmaceuticals Stock Performance

Shares of NASDAQ EYPT opened at $11.87 on Tuesday. The business’s 50-day simple moving average is $20.96 and its 200-day simple moving average is $19.20. EyePoint Pharmaceuticals has a 52 week low of $5.67 and a 52 week high of $30.99. The firm has a market cap of $618.19 million, a price-to-earnings ratio of -6.49 and a beta of 1.70.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate 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 quarter last year, the company posted ($0.61) earnings per share. As a group, equities research analysts forecast that EyePoint Pharmaceuticals will post -1.73 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Cormorant Asset Management, Lp purchased 581,765 shares of the firm’s stock in a transaction on Thursday, April 18th. The shares were bought at an average cost of $18.03 per share, for a total transaction of $10,489,222.95. Following the transaction, the insider now directly 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 SEC, which is accessible through this hyperlink. Company insiders own 13.05% of the company’s stock.

Institutional Trading of EyePoint Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Deutsche Bank AG grew its position in EyePoint Pharmaceuticals by 4.0% in the 3rd quarter. Deutsche Bank AG now owns 21,764 shares of the company’s stock worth $174,000 after purchasing an additional 830 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of EyePoint Pharmaceuticals by 6.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,584 shares of the company’s stock worth $360,000 after acquiring an additional 882 shares during the period. FNY Investment Advisers LLC bought a new position in shares of EyePoint Pharmaceuticals during the 4th quarter worth about $27,000. Tower Research Capital LLC TRC lifted its holdings in shares of EyePoint Pharmaceuticals by 36.0% during the 4th 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 period. Finally, Toth Financial Advisory Corp lifted its holdings in shares of EyePoint Pharmaceuticals by 42.9% during the 4th quarter. Toth Financial Advisory Corp now owns 5,000 shares of the company’s stock worth $116,000 after acquiring an additional 1,500 shares during the period. 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.