EyePoint Pharmaceuticals (NASDAQ:EYPT) Given “Overweight” Rating at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a research note published on Thursday, Benzinga reports.

A number of other equities research analysts also recently weighed in on the stock. StockNews.com downgraded shares of EyePoint Pharmaceuticals from a hold rating to a sell rating in a research note on Thursday, May 9th. Mizuho cut their target price on shares of EyePoint Pharmaceuticals from $39.00 to $30.00 and set a buy rating on the stock in a research report on Tuesday, May 7th. HC Wainwright lowered their price target on shares of EyePoint Pharmaceuticals from $33.00 to $30.00 and set a buy rating for the company in a report on Monday, May 13th. JPMorgan Chase & Co. cut their price objective on EyePoint Pharmaceuticals from $35.00 to $32.00 and set an overweight rating on the stock in a report on Tuesday, June 4th. Finally, Chardan Capital lowered their target price on EyePoint Pharmaceuticals from $39.00 to $28.00 and set a buy rating for the company in a report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $33.29.

EyePoint Pharmaceuticals Stock Performance

Shares of EYPT stock opened at $8.16 on Thursday. EyePoint Pharmaceuticals has a fifty-two week low of $5.67 and a fifty-two week high of $30.99. The stock’s fifty day moving average price is $13.21 and its two-hundred day moving average price is $19.91. The company has a market cap of $425.01 million, a PE ratio of -4.48 and a beta of 1.59.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.21). EyePoint Pharmaceuticals had a negative return on equity of 49.94% and a negative net margin of 157.77%. The business had revenue of $11.68 million for the quarter, compared to the consensus estimate of $12.50 million. On average, equities analysts predict that EyePoint Pharmaceuticals will post -2.21 EPS for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. FNY Investment Advisers LLC acquired a new stake in EyePoint Pharmaceuticals during the fourth quarter worth approximately $27,000. Ameritas Investment Partners Inc. boosted its holdings in shares of EyePoint Pharmaceuticals by 44.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock worth $77,000 after buying an additional 1,136 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter worth approximately $94,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of EyePoint Pharmaceuticals during the 3rd quarter worth approximately $101,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of EyePoint Pharmaceuticals by 36.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock valued at $109,000 after acquiring an additional 1,250 shares in the last quarter. 99.41% of the stock is owned by institutional investors.

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.