Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives $29.25 Consensus Price Target from Brokerages

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have been assigned a consensus rating of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $29.25.

Several analysts have issued reports on the company. Royal Bank Of Canada boosted their price objective on Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Thursday, January 22nd. TD Cowen upgraded shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research report on Friday, December 19th. Finally, Cantor Fitzgerald upgraded shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, November 25th.

Insiders Place Their Bets

In related news, insider Ramiro Ribeiro sold 42,544 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $17.10, for a total transaction of $727,502.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.46% of the company’s stock.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its position in shares of Eyepoint Pharmaceuticals by 1,636.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock worth $27,000 after purchasing an additional 2,733 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in Eyepoint Pharmaceuticals during the third quarter valued at approximately $50,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Eyepoint Pharmaceuticals by 51.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock valued at $74,000 after buying an additional 1,358 shares during the period. Russell Investments Group Ltd. purchased a new stake in Eyepoint Pharmaceuticals in the 3rd quarter worth approximately $76,000. Finally, Tower Research Capital LLC TRC lifted its position in Eyepoint Pharmaceuticals by 218.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock worth $82,000 after buying an additional 5,967 shares in the last quarter. Hedge funds and other institutional investors own 99.41% of the company’s stock.

Eyepoint Pharmaceuticals Stock Down 3.7%

Shares of NASDAQ EYPT opened at $14.36 on Monday. The stock’s fifty day simple moving average is $15.76 and its 200 day simple moving average is $13.84. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -4.80 and a beta of 1.76. Eyepoint Pharmaceuticals has a 52-week low of $3.91 and a 52-week high of $19.11.

About Eyepoint Pharmaceuticals

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.