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

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has received a consensus recommendation of “Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $31.80.

EYPT has been the topic of a number of recent research reports. HC Wainwright upped their target price on Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, April 21st. Royal Bank Of Canada dropped their target price on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Citigroup upped their target price on Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Finally, Chardan Capital upped their target price on Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th.

Insider Buying and Selling

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 2,437 shares of the company’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $15.00, for a total value of $36,555.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.13% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. KBC Group NV acquired a new position in shares of Eyepoint Pharmaceuticals during the 1st quarter worth approximately $29,000. Mirae Asset Global Investments Co. Ltd. raised 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 purchasing an additional 1,358 shares during the last quarter. California State Teachers Retirement System raised its stake in Eyepoint Pharmaceuticals by 20.6% in the 4th quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock valued at $85,000 after purchasing an additional 794 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Eyepoint Pharmaceuticals in the 3rd quarter valued at $76,000. Finally, Persistent Asset Partners Ltd acquired a new position in Eyepoint Pharmaceuticals in the 4th quarter valued at $98,000. 99.41% of the stock is owned by institutional investors and hedge funds.

Eyepoint Pharmaceuticals Stock Performance

Shares of EYPT stock opened at $13.58 on Wednesday. Eyepoint Pharmaceuticals has a fifty-two week low of $6.85 and a fifty-two week high of $19.11. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -3.88 and a beta of 1.72. The stock’s 50-day simple moving average is $13.43 and its 200-day simple moving average is $14.75.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.20). Eyepoint Pharmaceuticals had a negative return on equity of 110.54% and a negative net margin of 3,566.63%.The business had revenue of $0.70 million for the quarter, compared to analysts’ expectations of $0.35 million. As a group, equities analysts forecast that Eyepoint Pharmaceuticals will post -3.09 earnings per share for the current year.

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.