Analysts Set EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Price Target at $33.29

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have been assigned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among analysts that have covered the stock in the last year is $33.29.

A number of brokerages have issued reports on EYPT. JPMorgan Chase & Co. reduced their price objective on shares of EyePoint Pharmaceuticals from $35.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. StockNews.com cut shares of EyePoint Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th. Chardan Capital reissued a “buy” rating and set a $28.00 target price on shares of EyePoint Pharmaceuticals in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price target on shares of EyePoint Pharmaceuticals in a research note on Thursday. Finally, Mizuho lowered their price objective on shares of EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, May 7th.

Insider Transactions at EyePoint Pharmaceuticals

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

Institutional Trading of EyePoint Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Jennison Associates LLC bought a new stake in EyePoint Pharmaceuticals in the 4th quarter valued at $24,641,000. RA Capital Management L.P. acquired a new position in shares of EyePoint Pharmaceuticals in the 1st quarter valued at approximately $19,401,000. Franklin Resources Inc. boosted its position in shares of EyePoint Pharmaceuticals by 11.8% during the 4th quarter. Franklin Resources Inc. now owns 4,640,651 shares of the company’s stock worth $107,245,000 after acquiring an additional 488,206 shares in the last quarter. Federated Hermes Inc. increased its stake in EyePoint Pharmaceuticals by 194.0% in the fourth quarter. Federated Hermes Inc. now owns 674,824 shares of the company’s stock valued at $15,595,000 after acquiring an additional 445,289 shares during the last quarter. Finally, UBS Group AG raised its position in EyePoint Pharmaceuticals by 487.6% during the third quarter. UBS Group AG now owns 526,848 shares of the company’s stock valued at $4,210,000 after purchasing an additional 437,190 shares in the last quarter. Institutional investors and hedge funds own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Stock Down 0.6 %

Shares of EYPT opened at $8.70 on Wednesday. The stock’s fifty day simple moving average is $11.79 and its 200-day simple moving average is $19.46. The firm has a market capitalization of $453.10 million, a PE ratio of -4.78 and a beta of 1.59. EyePoint Pharmaceuticals has a 12-month low of $5.67 and a 12-month high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results on Wednesday, May 8th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.21). The business had revenue of $11.68 million for the quarter, compared to analyst estimates of $12.50 million. EyePoint Pharmaceuticals had a negative net margin of 157.77% and a negative return on equity of 49.94%. Analysts anticipate that EyePoint Pharmaceuticals will post -2.21 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.