Eyepoint Pharmaceuticals (NASDAQ:EYPT) Price Target Raised to $30.00

Eyepoint Pharmaceuticals (NASDAQ:EYPT) had its price target upped by HC Wainwright from $23.00 to $30.00 in a research note published on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also commented on EYPT. Cantor Fitzgerald upgraded shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, November 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Thursday, January 22nd. TD Cowen upgraded Eyepoint Pharmaceuticals to a “strong-buy” rating in a research report on Friday, December 19th. Chardan Capital raised their price objective on Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Royal Bank Of Canada boosted their target price on Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $31.50.

Eyepoint Pharmaceuticals Stock Down 0.1%

Shares of EYPT stock opened at $15.75 on Thursday. The stock has a 50-day simple moving average of $15.66 and a 200 day simple moving average of $14.37. The stock has a market capitalization of $1.30 billion, a P/E ratio of -4.98 and a beta of 1.72. Eyepoint Pharmaceuticals has a fifty-two week low of $3.91 and a fifty-two week high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings data on Wednesday, March 4th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.03). The business had revenue of $0.62 million for the quarter, compared to the consensus estimate of $1.01 million. Eyepoint Pharmaceuticals had a negative net margin of 739.39% and a negative return on equity of 93.46%. On average, sell-side analysts anticipate that Eyepoint Pharmaceuticals will post -2.13 earnings per share for the current year.

Insider Buying and Selling at Eyepoint Pharmaceuticals

In other news, insider Ramiro Ribeiro sold 42,544 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $17.10, for a total transaction of $727,502.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 4.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Eyepoint Pharmaceuticals by 1,636.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock valued at $27,000 after purchasing an additional 2,733 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Eyepoint Pharmaceuticals during the third quarter valued at $50,000. Mirae Asset Global Investments Co. Ltd. raised its position in Eyepoint Pharmaceuticals by 51.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock valued at $74,000 after buying an additional 1,358 shares during the period. Russell Investments Group Ltd. acquired a new position in Eyepoint Pharmaceuticals during the third quarter valued at $76,000. Finally, Tower Research Capital LLC TRC lifted its stake in Eyepoint Pharmaceuticals by 218.3% in the 2nd 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 in the last quarter. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

Eyepoint Pharmaceuticals Company Profile

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.