Analysts Set Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Price Target at $29.25

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has received an average rating of “Buy” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $29.25.

A number of analysts have weighed in on the stock. Royal Bank Of Canada increased their target price on shares of Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Mizuho set a $28.00 price objective on shares of Eyepoint Pharmaceuticals in a research note on Monday, October 20th. Cantor Fitzgerald raised 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. Finally, TD Cowen upgraded Eyepoint Pharmaceuticals to a “strong-buy” rating in a research report on Friday, December 19th.

Eyepoint Pharmaceuticals Stock Down 4.9%

NASDAQ:EYPT opened at $15.04 on Thursday. The company has a market cap of $1.25 billion, a PE ratio of -5.03 and a beta of 1.63. The business’s 50 day moving average is $16.32 and its two-hundred day moving average is $13.50. Eyepoint Pharmaceuticals has a 52 week low of $3.91 and a 52 week high of $19.11.

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

Insiders Place Their Bets

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 42,544 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $17.10, for a total value of $727,502.40. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.46% of the stock is owned by corporate insiders.

Institutional Trading of Eyepoint Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Corient Private Wealth LLC acquired a new stake in Eyepoint Pharmaceuticals in the 2nd quarter valued at approximately $1,200,000. Walleye Capital LLC grew its stake in shares of Eyepoint Pharmaceuticals by 500.6% in the second quarter. Walleye Capital LLC now owns 199,449 shares of the company’s stock worth $1,877,000 after purchasing an additional 166,243 shares in the last quarter. XTX Topco Ltd increased its holdings in shares of Eyepoint Pharmaceuticals by 215.4% during the second quarter. XTX Topco Ltd now owns 137,950 shares of the company’s stock valued at $1,298,000 after purchasing an additional 94,210 shares during the period. R Squared Ltd bought a new stake in shares of Eyepoint Pharmaceuticals during the second quarter valued at about $100,000. Finally, Stempoint Capital LP bought a new stake in shares of Eyepoint Pharmaceuticals during the second quarter valued at about $3,098,000. 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.