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

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has earned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $44.2857.

A number of analysts have recently weighed in on EYPT shares. Royal Bank Of Canada cut their price objective on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Chardan Capital boosted their target price on shares of Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Tuesday, April 21st. Cantor Fitzgerald began coverage on shares of Eyepoint Pharmaceuticals in a report on Wednesday, July 8th. They set an “overweight” rating and a $47.00 price target on the stock. Finally, Guggenheim reaffirmed a “buy” rating and issued a $68.00 price target on shares of Eyepoint Pharmaceuticals in a report on Wednesday, June 24th.

Eyepoint Pharmaceuticals Stock Up 0.9%

Shares of NASDAQ EYPT opened at $13.85 on Thursday. Eyepoint Pharmaceuticals has a 52 week low of $9.40 and a 52 week high of $19.11. The business’s 50 day moving average price is $13.27 and its 200 day moving average price is $14.28. The firm has a market cap of $1.16 billion, a P/E ratio of -3.96 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 analysts’ consensus estimates 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 business had revenue of $0.70 million for the quarter, compared to analysts’ expectations of $0.35 million. As a group, research analysts expect that Eyepoint Pharmaceuticals will post -3.22 earnings per share for the current year.

Insider Activity at Eyepoint Pharmaceuticals

In other news, insider Ramiro Ribeiro sold 2,437 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $15.00, for a total transaction of $36,555.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.13% of the stock is owned by company insiders.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in EYPT. Stempoint Capital LP increased its holdings in Eyepoint Pharmaceuticals by 129.1% in the 1st quarter. Stempoint Capital LP now owns 810,764 shares of the company’s stock worth $10,451,000 after acquiring an additional 456,915 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Eyepoint Pharmaceuticals by 22.6% during the first quarter. Janus Henderson Group PLC now owns 3,601,168 shares of the company’s stock valued at $46,419,000 after purchasing an additional 663,439 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Eyepoint Pharmaceuticals by 2,158.3% during the first quarter. California State Teachers Retirement System now owns 105,101 shares of the company’s stock valued at $1,355,000 after purchasing an additional 100,447 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Eyepoint Pharmaceuticals by 58.4% in the first quarter. The Manufacturers Life Insurance Company now owns 36,072 shares of the company’s stock valued at $465,000 after purchasing an additional 13,297 shares during the period. Finally, Commodore Capital LP acquired a new stake in shares of Eyepoint Pharmaceuticals in the first quarter valued at about $36,414,000. Institutional investors and hedge funds own 99.41% of the company’s stock.

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.