Royal Bank Of Canada Issues Pessimistic Forecast for Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Price

Eyepoint Pharmaceuticals (NASDAQ:EYPT) had its price objective dropped by analysts at Royal Bank Of Canada from $39.00 to $37.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 170.86% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Chardan Capital increased their price objective on shares of Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Tuesday, April 21st. Citigroup increased their price objective on shares of Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Finally, HC Wainwright increased their price objective on shares of Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $31.80.

Eyepoint Pharmaceuticals Stock Up 1.9%

NASDAQ EYPT opened at $13.66 on Thursday. Eyepoint Pharmaceuticals has a 12-month low of $5.30 and a 12-month high of $19.11. The company has a market capitalization of $1.14 billion, a PE ratio of -3.90 and a beta of 1.76. The firm’s 50 day moving average is $14.33 and its 200-day moving average is $14.62.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.20). Eyepoint Pharmaceuticals had a negative net margin of 3,566.63% and a negative return on equity of 108.31%. The business had revenue of $0.70 million during the quarter, compared to analyst estimates of $0.35 million. As a group, sell-side analysts expect that Eyepoint Pharmaceuticals will post -3.15 EPS for the current year.

Insider Activity at Eyepoint Pharmaceuticals

In other news, insider Ramiro Ribeiro sold 2,437 shares of the stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $15.00, for a total transaction of $36,555.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. KBC Group NV acquired a new stake in Eyepoint Pharmaceuticals in the 1st quarter valued at about $29,000. State of Alaska Department of Revenue acquired a new stake in Eyepoint Pharmaceuticals in the 3rd quarter valued at about $50,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Eyepoint Pharmaceuticals by 51.0% in the 4th 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 last quarter. California State Teachers Retirement System lifted its stake in Eyepoint Pharmaceuticals by 20.6% in the 4th quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock valued at $85,000 after purchasing an additional 794 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in Eyepoint Pharmaceuticals in the 3rd quarter valued at about $76,000. 99.41% of the stock is currently 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.