Brokerages Set Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Price Target at $25.70

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have been assigned a consensus rating of “Hold” from the eleven analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $25.70.

EYPT has been the topic of several research analyst reports. Citigroup lowered their price target on shares of Eyepoint Pharmaceuticals to $17.00 and set a “buy” rating on the stock in a report on Tuesday, August 18th. Cantor Fitzgerald cut Eyepoint Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research report on Monday, August 17th. Chardan Capital downgraded Eyepoint Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research note on Tuesday, August 18th. Stifel Nicolaus assumed coverage on Eyepoint Pharmaceuticals in a research report on Thursday, July 16th. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Wall Street Zen raised Eyepoint Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd.

Eyepoint Pharmaceuticals Stock Performance

EYPT stock opened at $4.56 on Friday. The stock has a market cap of $393.12 million, a P/E ratio of -1.22 and a beta of 1.63. The firm has a 50 day simple moving average of $10.41 and a 200 day simple moving average of $12.65. Eyepoint Pharmaceuticals has a 52 week low of $3.95 and a 52 week high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.08). Eyepoint Pharmaceuticals had a negative net margin of 10,994.73% and a negative return on equity of 135.81%. The company had revenue of $0.51 million during the quarter, compared to analyst estimates of $0.45 million. Sell-side analysts predict that Eyepoint Pharmaceuticals will post -3.51 EPS for the current year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EYPT. California State Teachers Retirement System grew its position in Eyepoint Pharmaceuticals by 2,158.3% in the first quarter. California State Teachers Retirement System now owns 105,101 shares of the company’s stock worth $1,355,000 after acquiring an additional 100,447 shares in the last quarter. Commodore Capital LP bought a new position in shares of Eyepoint Pharmaceuticals during the 1st quarter valued at $36,414,000. Simplify Asset Management Inc. raised its holdings in shares of Eyepoint Pharmaceuticals by 314.9% during the 4th quarter. Simplify Asset Management Inc. now owns 375,264 shares of the company’s stock valued at $6,856,000 after purchasing an additional 284,824 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Eyepoint Pharmaceuticals in the 1st quarter valued at $3,869,000. Finally, Swiss National Bank bought a new stake in Eyepoint Pharmaceuticals in the first quarter worth $1,900,000. Institutional investors 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.