Citigroup Issues Positive Forecast for Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Price

Eyepoint Pharmaceuticals (NASDAQ:EYPT) had its price objective lifted by Citigroup from $31.00 to $35.00 in a research report report published on Monday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

EYPT has been the subject of several other reports. TD Cowen raised shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research report on Friday, December 19th. HC Wainwright lifted their price objective on shares of Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Thursday, January 22nd. Cantor Fitzgerald raised shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, November 25th. Finally, Chardan Capital raised their target price on shares of Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $32.20.

Eyepoint Pharmaceuticals Trading Down 0.5%

EYPT opened at $15.67 on Monday. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -4.96 and a beta of 1.72. Eyepoint Pharmaceuticals has a 12 month low of $3.91 and a 12 month high of $19.11. The stock has a fifty day moving average price of $15.61 and a 200-day moving average price of $14.42.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings data on Wednesday, March 4th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.03). Eyepoint Pharmaceuticals had a negative net margin of 739.39% and a negative return on equity of 88.31%. The company had revenue of $0.62 million for the quarter, compared to the consensus estimate of $1.01 million. On average, equities research analysts forecast that Eyepoint Pharmaceuticals will post -2.13 EPS for the current year.

Insider Activity

In other news, insider Ramiro Ribeiro sold 42,544 shares of the business’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of EYPT. State of Alaska Department of Revenue acquired a new stake in shares of Eyepoint Pharmaceuticals during the 3rd quarter worth approximately $50,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Eyepoint Pharmaceuticals by 51.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock valued at $74,000 after purchasing an additional 1,358 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Eyepoint Pharmaceuticals in the 3rd quarter valued at $76,000. Tower Research Capital LLC TRC boosted 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 buying an additional 5,967 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings 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 worth $85,000 after buying an additional 794 shares in the last quarter. 99.41% of the stock is 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.