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

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have received an average rating of “Buy” from the seven analysts that are currently covering the company, Marketbeat reports. Seven analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $32.86.

A number of brokerages have recently issued reports on EYPT. Mizuho reduced their price objective on shares of EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. Chardan Capital reiterated a “buy” rating and set a $28.00 price target on shares of EyePoint Pharmaceuticals in a research note on Friday, June 28th. Robert W. Baird dropped their target price on EyePoint Pharmaceuticals from $46.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. JPMorgan Chase & Co. cut their target price on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. Finally, HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday, June 27th.

EyePoint Pharmaceuticals Price Performance

Shares of EyePoint Pharmaceuticals stock opened at $9.05 on Thursday. The business has a 50-day simple moving average of $8.87 and a 200 day simple moving average of $15.83. EyePoint Pharmaceuticals has a one year low of $5.67 and a one year high of $30.99. The firm has a market capitalization of $471.36 million, a price-to-earnings ratio of -4.97 and a beta of 1.58.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). The firm had revenue of $9.48 million during the quarter, compared to the consensus estimate of $11.61 million. EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. On average, sell-side analysts expect that EyePoint Pharmaceuticals will post -2.34 EPS for the current year.

Insider Buying and Selling

In related news, Director David R. Guyer sold 11,625 shares of the firm’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $10.06, for a total transaction of $116,947.50. Following the completion of the sale, the director now owns 1,850 shares in the company, valued at $18,611. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.74% of the stock is owned by insiders.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. grew its position in shares of EyePoint Pharmaceuticals by 44.0% in the first quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock valued at $77,000 after purchasing an additional 1,136 shares in the last quarter. Greenwich Wealth Management LLC bought a new stake in shares of EyePoint Pharmaceuticals during the second quarter valued at about $94,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of EyePoint Pharmaceuticals by 271.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock worth $95,000 after buying an additional 7,953 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of EyePoint Pharmaceuticals by 9.7% in the second quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock worth $115,000 after buying an additional 1,171 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of EyePoint Pharmaceuticals by 129.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,393 shares of the company’s stock valued at $194,000 after acquiring an additional 5,308 shares during the period. 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.