EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have earned a consensus recommendation of “Buy” from the eight brokerages that are covering the stock, Marketbeat reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $30.57.

EYPT has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price objective on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Thursday, June 20th. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Thursday, June 27th. StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Thursday, September 5th. Finally, Chardan Capital reissued a “buy” rating and issued a $28.00 target price on shares of EyePoint Pharmaceuticals in a research note on Friday, June 28th.

Insider Buying and Selling at EyePoint Pharmaceuticals

In other news, Director David R. Guyer sold 11,625 shares of the stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $10.06, for a total value of $116,947.50. Following the completion of the transaction, the director now owns 1,850 shares of the company’s stock, valued at approximately $18,611. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.74% of the company’s stock.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. RA Capital Management L.P. purchased a new stake in shares of EyePoint Pharmaceuticals in the 1st quarter worth about $19,401,000. Point72 Asset Management L.P. bought a new stake in EyePoint Pharmaceuticals during the second quarter worth about $5,488,000. Franklin Resources Inc. grew its holdings in EyePoint Pharmaceuticals by 11.8% in the fourth quarter. Franklin Resources Inc. now owns 4,640,651 shares of the company’s stock worth $107,245,000 after purchasing an additional 488,206 shares during the period. Cubist Systematic Strategies LLC increased its stake in shares of EyePoint Pharmaceuticals by 842.5% during the second quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock valued at $4,143,000 after purchasing an additional 425,717 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of EyePoint Pharmaceuticals by 17.8% during the first 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. 99.41% of the stock is owned by hedge funds and other institutional investors.

EyePoint Pharmaceuticals Stock Up 2.5 %

Shares of NASDAQ:EYPT opened at $9.10 on Monday. The stock has a market cap of $487.03 million, a PE ratio of -5.00 and a beta of 1.59. The company’s fifty day moving average is $8.88 and its 200 day moving average is $13.56. EyePoint Pharmaceuticals has a 52 week low of $5.67 and a 52 week high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.03). The company had revenue of $9.48 million during the quarter, compared to analysts’ expectations of $11.61 million. EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. Sell-side analysts anticipate that EyePoint Pharmaceuticals will post -2.33 EPS for the current year.

About EyePoint Pharmaceuticals

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.