EyePoint Pharmaceuticals (NASDAQ:EYPT) Earns “Buy” Rating from HC Wainwright

EyePoint Pharmaceuticals (NASDAQ:EYPT)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a report released on Thursday, Benzinga reports. They presently have a $30.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 244.83% from the stock’s previous close.

Several other research firms also recently commented on EYPT. Robert W. Baird dropped their price objective on shares of EyePoint Pharmaceuticals from $46.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Mizuho cut their price objective on shares of EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Cantor Fitzgerald restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research note on Thursday, June 20th. JPMorgan Chase & Co. lowered their price objective on shares of EyePoint Pharmaceuticals from $35.00 to $32.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Finally, Chardan Capital lowered their price objective on shares of EyePoint Pharmaceuticals from $39.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $33.29.

EyePoint Pharmaceuticals Stock Performance

EYPT stock opened at $8.70 on Thursday. EyePoint Pharmaceuticals has a fifty-two week low of $5.67 and a fifty-two week high of $30.99. The business’s 50 day moving average price is $11.79 and its two-hundred day moving average price is $19.46. The company has a market capitalization of $453.10 million, a price-to-earnings ratio of -4.78 and a beta of 1.59.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.21). The business had revenue of $11.68 million during the quarter, compared to the consensus estimate of $12.50 million. EyePoint Pharmaceuticals had a negative net margin of 157.77% and a negative return on equity of 49.94%. Sell-side analysts forecast that EyePoint Pharmaceuticals will post -2.21 earnings per share for the current year.

Insider Activity at EyePoint Pharmaceuticals

In other EyePoint Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp purchased 581,765 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was purchased at an average price of $18.03 per share, for a total transaction of $10,489,222.95. Following the purchase, the insider now directly owns 7,475,000 shares in the company, valued at $134,774,250. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director David R. Guyer sold 11,625 shares of EyePoint Pharmaceuticals stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $12.65, for a total transaction of $147,056.25. Following the completion of the sale, the director now directly owns 5,550 shares in the company, valued at $70,207.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Cormorant Asset Management, Lp purchased 581,765 shares of the firm’s stock in a transaction on Thursday, April 18th. The stock was bought at an average price of $18.03 per share, for a total transaction of $10,489,222.95. Following the acquisition, the insider now owns 7,475,000 shares in the company, valued at $134,774,250. The disclosure for this purchase can be found here. Insiders own 4.74% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in EYPT. FNY Investment Advisers LLC acquired a new stake in EyePoint Pharmaceuticals in the 4th quarter valued at $27,000. Ameritas Investment Partners Inc. lifted its holdings in EyePoint Pharmaceuticals by 44.0% in the first quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock worth $77,000 after acquiring an additional 1,136 shares during the last quarter. China Universal Asset Management Co. Ltd. bought a new position in EyePoint Pharmaceuticals in the fourth quarter worth about $94,000. Sherbrooke Park Advisers LLC bought a new position in EyePoint Pharmaceuticals in the third quarter worth about $101,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of EyePoint Pharmaceuticals by 36.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock valued at $109,000 after buying an additional 1,250 shares during the last quarter. 99.41% of the stock is owned by hedge funds and other institutional investors.

EyePoint Pharmaceuticals Company Profile

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.