Cantor Fitzgerald Boosts Eyepoint Pharmaceuticals (NASDAQ:EYPT) Price Target to $55.00

Eyepoint Pharmaceuticals (NASDAQ:EYPT) had its target price lifted by equities research analysts at Cantor Fitzgerald from $47.00 to $55.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price points to a potential upside of 295.97% from the stock’s previous close.

EYPT has been the topic of several other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Friday, July 17th. Guggenheim restated a “buy” rating and set a $68.00 price objective on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, June 24th. Chardan Capital upped their target price on Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Stifel Nicolaus began coverage on Eyepoint Pharmaceuticals in a report on Thursday, July 16th. They issued a “buy” rating and a $40.00 target price on the stock. Finally, HC Wainwright decreased their price target on Eyepoint Pharmaceuticals from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.38.

Eyepoint Pharmaceuticals Stock Performance

EYPT opened at $13.89 on Thursday. The firm has a market cap of $1.16 billion, a P/E ratio of -3.71 and a beta of 1.76. The business’s fifty day moving average is $13.11 and its 200-day moving average is $13.78. Eyepoint Pharmaceuticals has a 52-week low of $9.65 and a 52-week high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.08). Eyepoint Pharmaceuticals had a negative return on equity of 135.81% and a negative net margin of 10,994.73%.The firm had revenue of $0.51 million for the quarter, compared to analyst estimates of $0.45 million. On average, research analysts predict that Eyepoint Pharmaceuticals will post -3.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Simplify Asset Management Inc. increased its holdings in shares of Eyepoint Pharmaceuticals by 314.9% during the fourth quarter. Simplify Asset Management Inc. now owns 375,264 shares of the company’s stock worth $6,856,000 after buying an additional 284,824 shares in the last quarter. Commodore Capital LP acquired a new stake in shares of Eyepoint Pharmaceuticals during the 1st quarter valued at $36,414,000. Walleye Capital LLC bought a new stake in Eyepoint Pharmaceuticals during the 1st quarter worth $3,869,000. Stempoint Capital LP grew its position in Eyepoint Pharmaceuticals by 129.1% during 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 during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Eyepoint Pharmaceuticals by 27.1% in the 4th quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock worth $88,100,000 after purchasing an additional 1,027,623 shares in the last quarter. Institutional investors own 99.41% of the company’s stock.

About Eyepoint Pharmaceuticals

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.