Eyepoint Pharmaceuticals (NASDAQ:EYPT) Coverage Initiated at Stifel Nicolaus

Analysts at Stifel Nicolaus assumed coverage on shares of Eyepoint Pharmaceuticals (NASDAQ:EYPT) in a research note issued on Thursday, Marketbeat reports. The firm set a “buy” rating and a $40.00 price target on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 200.75% from the company’s current price.

Several other brokerages have also issued reports on EYPT. Guggenheim restated a “buy” rating and set a $68.00 price target on shares of Eyepoint Pharmaceuticals in a research note on Wednesday, June 24th. Chardan Capital lifted their price objective on Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. Cantor Fitzgerald assumed coverage on Eyepoint Pharmaceuticals in a research report on Wednesday, July 8th. They set an “overweight” rating and a $47.00 price objective on the stock. Royal Bank Of Canada lowered their price objective on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Eyepoint Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $43.75.

Eyepoint Pharmaceuticals Trading Up 2.0%

EYPT opened at $13.30 on Thursday. Eyepoint Pharmaceuticals has a 1-year low of $9.40 and a 1-year high of $19.11. The business has a 50 day moving average of $13.26 and a 200-day moving average of $14.24. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -3.80 and a beta of 1.73.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.20). Eyepoint Pharmaceuticals had a negative return on equity of 110.54% and a negative net margin of 3,566.63%.The company had revenue of $0.70 million during the quarter, compared to analyst estimates of $0.35 million. Equities analysts predict that Eyepoint Pharmaceuticals will post -3.22 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Suvretta Capital Management LLC grew its stake in shares of Eyepoint Pharmaceuticals by 26.4% in the 4th quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock valued at $143,012,000 after purchasing an additional 1,634,970 shares during the period. Adage Capital Partners GP L.L.C. grew its position in Eyepoint Pharmaceuticals by 9.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock valued at $63,988,000 after acquiring an additional 600,000 shares during the period. Federated Hermes Inc. raised its stake in Eyepoint Pharmaceuticals by 36.3% during the fourth quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock worth $109,938,000 after acquiring an additional 1,601,101 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Eyepoint Pharmaceuticals by 19.3% during the fourth quarter. Franklin Resources Inc. now owns 4,976,915 shares of the company’s stock valued at $90,928,000 after acquiring an additional 805,031 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Eyepoint Pharmaceuticals by 27.1% during the fourth quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock valued at $88,100,000 after acquiring an additional 1,027,623 shares during the period. Institutional investors own 99.41% of the company’s stock.

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.