EyePoint Pharmaceuticals (NASDAQ:EYPT) Rating Reiterated by Chardan Capital

EyePoint Pharmaceuticals (NASDAQ:EYPT)‘s stock had its “buy” rating reissued by equities research analysts at Chardan Capital in a note issued to investors on Friday, Benzinga reports. They currently have a $28.00 target price on the stock. Chardan Capital’s price objective would suggest a potential upside of 221.84% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $30.00 price target on shares of EyePoint Pharmaceuticals in a research note on Thursday. StockNews.com cut EyePoint Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Mizuho decreased their price objective on EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Robert W. Baird cut their target price on EyePoint Pharmaceuticals from $46.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of EyePoint Pharmaceuticals in a report on Thursday, June 20th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. According to data from MarketBeat, EyePoint Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $33.29.

EyePoint Pharmaceuticals Price Performance

Shares of NASDAQ:EYPT opened at $8.70 on Friday. EyePoint Pharmaceuticals has a 1-year low of $5.67 and a 1-year high of $30.99. The business has a fifty day moving average price of $11.79 and a 200-day moving average price of $19.47. The company has a market capitalization of $453.13 million, a PE 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) 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 return on equity of 49.94% and a negative net margin of 157.77%. On average, sell-side analysts anticipate that EyePoint Pharmaceuticals will post -2.21 earnings per share for the current fiscal year.

Insider Activity

In related news, Director David R. Guyer sold 11,625 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $12.65, for a total transaction of $147,056.25. Following the sale, the director now directly owns 5,550 shares of the company’s stock, valued at $70,207.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other EyePoint Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp acquired 850,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were bought at an average cost of $11.86 per share, with a total value of $10,081,000.00. Following the completion of the acquisition, the insider now owns 8,325,000 shares in the company, valued at $98,734,500. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David R. Guyer sold 11,625 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $12.65, for a total value of $147,056.25. Following the completion of the transaction, the director now owns 5,550 shares in the company, valued at approximately $70,207.50. The disclosure for this sale can be found here. Corporate insiders own 4.74% of the company’s stock.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its stake in shares of EyePoint Pharmaceuticals by 11.8% in the fourth quarter. Franklin Resources Inc. now owns 4,640,651 shares of the company’s stock valued at $107,245,000 after buying an additional 488,206 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of EyePoint Pharmaceuticals by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock valued at $49,530,000 after purchasing an additional 362,168 shares during the last quarter. Jennison Associates LLC purchased a new stake in shares of EyePoint Pharmaceuticals in the 4th quarter valued at about $24,641,000. RA Capital Management L.P. purchased a new stake in shares of EyePoint Pharmaceuticals in the 1st quarter valued at about $19,401,000. Finally, Federated Hermes Inc. lifted its holdings in shares of EyePoint Pharmaceuticals by 194.0% in the 4th quarter. Federated Hermes Inc. now owns 674,824 shares of the company’s stock valued at $15,595,000 after purchasing an additional 445,289 shares during the last quarter. Hedge funds and other institutional investors own 99.41% of the company’s stock.

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.