Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives $31.80 Average Target Price from Analysts

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have received an average recommendation of “Buy” from the seven ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $31.80.

A number of analysts have recently commented on EYPT shares. Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Tuesday, April 21st. Citigroup upped their target price on Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Chardan Capital upped their target price on Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Royal Bank Of Canada lowered their target price on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Finally, HC Wainwright upped their target price on Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th.

Eyepoint Pharmaceuticals Stock Performance

Shares of EYPT stock opened at $13.58 on Wednesday. The stock’s 50-day simple moving average is $13.43 and its 200-day simple moving average is $14.73. The firm has a market capitalization of $1.14 billion, a PE ratio of -3.88 and a beta of 1.76. Eyepoint Pharmaceuticals has a fifty-two week low of $6.85 and a fifty-two week high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.20). The firm had revenue of $0.70 million during the quarter, compared to analyst estimates of $0.35 million. Eyepoint Pharmaceuticals had a negative net margin of 3,566.63% and a negative return on equity of 110.54%. Sell-side analysts forecast that Eyepoint Pharmaceuticals will post -3.09 earnings per share for the current year.

Insider Transactions at Eyepoint Pharmaceuticals

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 2,437 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $15.00, for a total transaction of $36,555.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.46% of the company’s stock.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. Suvretta Capital Management LLC boosted its position in Eyepoint Pharmaceuticals by 26.4% during the fourth quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock worth $143,012,000 after purchasing an additional 1,634,970 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Eyepoint Pharmaceuticals by 9.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock valued at $63,988,000 after acquiring an additional 600,000 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Eyepoint Pharmaceuticals by 36.3% in the fourth quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock valued at $109,938,000 after acquiring an additional 1,601,101 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Eyepoint Pharmaceuticals by 19.3% in the fourth quarter. Franklin Resources Inc. now owns 4,976,915 shares of the company’s stock valued at $90,928,000 after acquiring an additional 805,031 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Eyepoint Pharmaceuticals by 27.1% in the fourth quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock valued at $88,100,000 after acquiring an additional 1,027,623 shares in the last quarter. Hedge funds and other 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.