EyePoint Pharmaceuticals (NASDAQ:EYPT) Given New $28.00 Price Target at Chardan Capital

EyePoint Pharmaceuticals (NASDAQ:EYPT) had its target price cut by stock analysts at Chardan Capital from $39.00 to $28.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Chardan Capital’s price objective would suggest a potential upside of 142.21% from the stock’s current price.

A number of other equities research analysts also recently issued reports on EYPT. JPMorgan Chase & Co. initiated coverage on shares of EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 price objective for the company. Mizuho reduced their target price on EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday. HC Wainwright dropped their price target on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, January 16th. Finally, Capital One Financial reaffirmed an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $34.14.

EyePoint Pharmaceuticals Stock Down 2.6 %

NASDAQ EYPT opened at $11.56 on Tuesday. The company has a market capitalization of $602.09 million, a price-to-earnings ratio of -6.32 and a beta of 1.70. EyePoint Pharmaceuticals has a twelve month low of $5.67 and a twelve month high of $30.99. The stock has a fifty day simple moving average of $20.64 and a 200 day simple moving average of $19.14.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($0.33) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $14.03 million during the quarter, compared to analysts’ expectations of $8.71 million. During the same period in the prior year, the company posted ($0.61) earnings per share. Research analysts expect that EyePoint Pharmaceuticals will post -1.73 earnings per share for the current fiscal year.

Insider Buying and Selling at EyePoint Pharmaceuticals

In other EyePoint Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp bought 850,000 shares of EyePoint Pharmaceuticals stock in a transaction dated Monday, May 6th. The stock was purchased at an average price of $11.86 per share, for a total transaction of $10,081,000.00. Following the completion of the purchase, the insider now directly owns 8,325,000 shares of the company’s stock, valued at $98,734,500. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Entropy Technologies LP bought a new stake in EyePoint Pharmaceuticals during the 1st quarter valued at $279,000. ProShare Advisors LLC purchased a new position in shares of EyePoint Pharmaceuticals in the first quarter valued at $209,000. Legacy Capital Group California Inc. bought a new stake in shares of EyePoint Pharmaceuticals during the 1st quarter valued at $699,000. Swiss National Bank purchased a new stake in EyePoint Pharmaceuticals during the 1st quarter worth about $1,792,000. Finally, Essex Investment Management Co. LLC boosted its stake in EyePoint Pharmaceuticals by 1.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 149,819 shares of the company’s stock worth $3,097,000 after purchasing an additional 2,278 shares during the period. 99.41% of the stock is owned by institutional investors.

About EyePoint Pharmaceuticals

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.