Cantor Fitzgerald Reiterates Overweight Rating for Eyepoint Pharmaceuticals (NASDAQ:EYPT)

Eyepoint Pharmaceuticals (NASDAQ:EYPT)‘s stock had its “overweight” rating reissued by analysts at Cantor Fitzgerald in a research note issued on Wednesday,Benzinga reports. They presently have a $47.00 price target on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 235.24% from the stock’s current price.

EYPT has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Tuesday, April 21st. Chardan Capital boosted their price objective on shares of Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Guggenheim restated a “buy” rating and issued a $68.00 target price on shares of Eyepoint Pharmaceuticals in a report on Wednesday, June 24th. Finally, Royal Bank Of Canada dropped their target price on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.29.

Eyepoint Pharmaceuticals Price Performance

Eyepoint Pharmaceuticals stock opened at $14.02 on Wednesday. The stock has a market cap of $1.18 billion, a PE ratio of -4.01 and a beta of 1.73. The stock’s fifty day moving average is $13.17 and its two-hundred day moving average is $14.44. Eyepoint Pharmaceuticals has a 1-year low of $9.40 and a 1-year high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.20). Eyepoint Pharmaceuticals had a negative return on equity of 110.54% and a negative net margin of 3,566.63%.The business had revenue of $0.70 million for the quarter, compared to analyst estimates of $0.35 million. On average, research analysts expect that Eyepoint Pharmaceuticals will post -3.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 2,437 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $15.00, for a total value of $36,555.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.13% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Institutional investors have recently modified their holdings of the business. KBC Group NV purchased a new stake in Eyepoint Pharmaceuticals in the 1st quarter valued at $29,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Eyepoint Pharmaceuticals by 51.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock valued at $74,000 after purchasing an additional 1,358 shares during the period. California State Teachers Retirement System raised its holdings in shares of Eyepoint Pharmaceuticals by 20.6% in the fourth quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock valued at $85,000 after buying an additional 794 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Eyepoint Pharmaceuticals in the third quarter valued at about $76,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Eyepoint Pharmaceuticals during the fourth quarter worth about $98,000. 99.41% of the stock is owned by institutional investors and hedge funds.

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.