EyePoint Pharmaceuticals (NASDAQ:EYPT) Price Target Cut to $28.00 by Analysts at Chardan Capital

EyePoint Pharmaceuticals (NASDAQ:EYPT) had its price target reduced by Chardan Capital from $39.00 to $28.00 in a research note published on Tuesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on the company. HC Wainwright lowered their target price on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a buy rating for the company in a report on Tuesday, January 16th. Capital One Financial reiterated an overweight rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th. JPMorgan Chase & Co. began coverage on shares of EyePoint Pharmaceuticals in a report on Monday, January 22nd. They issued an overweight rating and a $35.00 price target for the company. Finally, Mizuho dropped their price objective on shares of EyePoint Pharmaceuticals from $39.00 to $30.00 and set a buy rating on the stock in a report on Tuesday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $33.50.

EyePoint Pharmaceuticals Stock Performance

Shares of NASDAQ EYPT opened at $11.87 on Tuesday. EyePoint Pharmaceuticals has a 52-week low of $5.67 and a 52-week high of $30.99. The company’s 50 day moving average price is $20.96 and its 200-day moving average price is $19.20. The company has a market capitalization of $618.19 million, a P/E ratio of -6.49 and a beta of 1.70.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.27. EyePoint Pharmaceuticals had a negative net margin of 153.84% and a negative return on equity of 61.48%. The business had revenue of $14.03 million for the quarter, compared to analysts’ expectations of $8.71 million. During the same quarter in the prior year, the firm posted ($0.61) earnings per share. Analysts forecast that EyePoint Pharmaceuticals will post -1.73 earnings per share for the current year.

Insider Activity

In other EyePoint Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp purchased 581,765 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The shares were acquired at an average price of $18.03 per share, with a total value of $10,489,222.95. Following the transaction, the insider now owns 7,475,000 shares in the company, valued at $134,774,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Several large investors have recently added to or reduced their stakes in EYPT. Bank of New York Mellon Corp lifted its position in EyePoint Pharmaceuticals by 11.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 115,690 shares of the company’s stock valued at $924,000 after acquiring an additional 12,309 shares in the last quarter. Strs Ohio bought a new position in EyePoint Pharmaceuticals in the 3rd quarter valued at about $196,000. Mirae Asset Global Investments Co. Ltd. bought a new position in EyePoint Pharmaceuticals in the 3rd quarter valued at about $117,000. TD Asset Management Inc bought a new position in EyePoint Pharmaceuticals in the 3rd quarter valued at about $574,000. Finally, Jump Financial LLC lifted its position in shares of EyePoint Pharmaceuticals by 318.5% during the 3rd quarter. Jump Financial LLC now owns 48,968 shares of the company’s stock worth $391,000 after buying an additional 37,268 shares in the last quarter. Institutional investors own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Company Profile

EyePoint Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing therapeutics to improve the lives of patients with serious retinal diseases. The company's pipeline leverages its proprietary bioerodible Durasert E technology for sustained intraocular drug delivery.