Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives Consensus Rating of “Buy” from Brokerages

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have been assigned an average recommendation of “Buy” from the seven research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $29.25.

A number of research firms recently commented on EYPT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Wednesday, October 8th. TD Cowen raised Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Friday, December 19th. Mizuho set a $28.00 price target on shares of Eyepoint Pharmaceuticals in a research report on Monday, October 20th. Royal Bank Of Canada boosted their price objective on shares of Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, Cantor Fitzgerald raised shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, November 25th.

Eyepoint Pharmaceuticals Stock Performance

Shares of EYPT stock opened at $15.53 on Thursday. The firm’s 50 day moving average price is $16.05 and its two-hundred day moving average price is $13.32. Eyepoint Pharmaceuticals has a 52-week low of $3.91 and a 52-week high of $19.11. The stock has a market cap of $1.29 billion, a PE ratio of -5.19 and a beta of 1.63.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Wednesday, November 5th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.08). The business had revenue of $0.97 million for the quarter, compared to the consensus estimate of $3.33 million. Eyepoint Pharmaceuticals had a negative net margin of 485.95% and a negative return on equity of 76.13%. As a group, sell-side analysts predict that Eyepoint Pharmaceuticals will post -2.13 earnings per share for the current fiscal year.

Insider Activity at Eyepoint Pharmaceuticals

In related news, insider Ramiro Ribeiro sold 42,544 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $17.10, for a total transaction of $727,502.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 4.46% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Aberdeen Group plc grew its position in shares of Eyepoint Pharmaceuticals by 101.6% in the 4th quarter. Aberdeen Group plc now owns 1,605,984 shares of the company’s stock valued at $29,341,000 after purchasing an additional 809,182 shares during the period. Nisa Investment Advisors LLC lifted its stake in Eyepoint Pharmaceuticals by 31.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 42,655 shares of the company’s stock valued at $779,000 after buying an additional 10,155 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its holdings in shares of Eyepoint Pharmaceuticals by 3.4% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 22,990 shares of the company’s stock valued at $420,000 after buying an additional 760 shares during the period. Paradigm Biocapital Advisors LP bought a new stake in shares of Eyepoint Pharmaceuticals during the third quarter worth $28,556,000. Finally, Millennium Management LLC increased its position in shares of Eyepoint Pharmaceuticals by 1,166.2% during the third quarter. Millennium Management LLC now owns 483,054 shares of the company’s stock worth $6,879,000 after acquiring an additional 444,905 shares in the last quarter. 99.41% of the stock is owned by institutional investors and hedge funds.

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.