Eyepoint Pharmaceuticals’ (EYPT) Overweight Rating Reiterated at Cantor Fitzgerald

Eyepoint Pharmaceuticals (NASDAQ:EYPT)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research report issued on Wednesday,Benzinga reports. They presently have a $47.00 price objective on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 235.24% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Tuesday, April 21st. Chardan Capital lifted their target price on shares of Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Guggenheim reissued a “buy” rating and issued a $68.00 target price on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, June 24th. Finally, Royal Bank Of Canada lowered their price target on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Eyepoint Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.29.

Eyepoint Pharmaceuticals Stock Down 2.9%

NASDAQ:EYPT opened at $14.02 on Wednesday. Eyepoint Pharmaceuticals has a 52 week low of $9.40 and a 52 week high of $19.11. The stock’s fifty day moving average is $13.17 and its two-hundred day moving average is $14.44. The company has a market capitalization of $1.18 billion, a P/E ratio of -4.01 and a beta of 1.73.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings results 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). Eyepoint Pharmaceuticals had a negative return on equity of 110.54% and a negative net margin of 3,566.63%.The business had revenue of $0.70 million for the quarter, compared to analysts’ expectations of $0.35 million. Sell-side analysts anticipate that Eyepoint Pharmaceuticals will post -3.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Eyepoint Pharmaceuticals

In related news, insider Ramiro Ribeiro sold 2,437 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The shares were 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 can be accessed through this hyperlink. Company insiders own 5.13% of the company’s stock.

Institutional Trading of Eyepoint Pharmaceuticals

A number of large investors have recently modified their holdings of the stock. Jefferies Financial Group Inc. purchased a new position in shares of Eyepoint Pharmaceuticals in the 3rd quarter valued at about $1,994,000. Aberdeen Group plc increased its stake in shares of Eyepoint Pharmaceuticals by 101.6% during the fourth quarter. Aberdeen Group plc now owns 1,605,984 shares of the company’s stock worth $29,341,000 after buying an additional 809,182 shares during the period. Simplify Asset Management Inc. raised its holdings in Eyepoint Pharmaceuticals by 314.9% in the fourth quarter. Simplify Asset Management Inc. now owns 375,264 shares of the company’s stock valued at $6,856,000 after acquiring an additional 284,824 shares in the last quarter. Rosalind Advisors Inc. purchased a new position in Eyepoint Pharmaceuticals in the third quarter worth approximately $9,256,000. Finally, Vanguard Group Inc. lifted its stake in Eyepoint Pharmaceuticals by 27.1% in the fourth quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock worth $88,100,000 after acquiring an additional 1,027,623 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 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.