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

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has been given a consensus recommendation of “Buy” by the eight analysts that are covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $30.57.

Several equities research analysts have weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $30.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, June 27th. Chardan Capital reaffirmed a “buy” rating and set a $28.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Friday, June 28th. StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. JPMorgan Chase & Co. cut their price objective on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Finally, Jefferies Financial Group began coverage on EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price objective for the company.

EyePoint Pharmaceuticals Trading Up 1.9 %

NASDAQ EYPT opened at $8.37 on Friday. EyePoint Pharmaceuticals has a 12 month low of $5.67 and a 12 month high of $30.99. The company has a market capitalization of $447.96 million, a PE ratio of -4.60 and a beta of 1.59. The stock has a 50-day simple moving average of $8.63 and a 200 day simple moving average of $11.98.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). EyePoint Pharmaceuticals had a negative net margin of 172.29% and a negative return on equity of 43.24%. The firm had revenue of $9.48 million during the quarter, compared to analyst estimates of $11.61 million. As a group, sell-side analysts predict that EyePoint Pharmaceuticals will post -2.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director David R. Guyer sold 11,625 shares of the stock in a transaction on 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 transaction, the director now owns 1,850 shares in the company, valued at $18,611. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.74% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. RA Capital Management L.P. acquired a new stake in EyePoint Pharmaceuticals in the first quarter valued at $19,401,000. Point72 Asset Management L.P. bought a new stake in EyePoint Pharmaceuticals in the 2nd quarter valued at $5,488,000. Cubist Systematic Strategies LLC lifted its holdings in EyePoint Pharmaceuticals by 842.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock valued at $4,143,000 after purchasing an additional 425,717 shares during the last quarter. Vanguard Group Inc. boosted its position in EyePoint Pharmaceuticals by 17.8% during the first quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock worth $49,530,000 after purchasing an additional 362,168 shares during the period. Finally, Deerfield Management Company L.P. Series C increased its holdings in shares of EyePoint Pharmaceuticals by 51.4% in the second quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock valued at $7,637,000 after purchasing an additional 298,196 shares during the last quarter. Institutional investors and hedge funds 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.