EyePoint Pharmaceuticals (NASDAQ:EYPT) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a report issued on Thursday, Benzinga reports. The firm currently has a $30.00 price target on the stock.

EYPT has been the topic of a number of other reports. Cantor Fitzgerald restated an overweight rating on shares of EyePoint Pharmaceuticals in a report on Thursday, June 20th. Mizuho dropped 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 note on Tuesday, May 7th. Robert W. Baird decreased their price target on shares of EyePoint Pharmaceuticals from $46.00 to $38.00 and set an outperform rating for the company in a research note on Wednesday, May 8th. Chardan Capital dropped their price objective on EyePoint Pharmaceuticals from $39.00 to $28.00 and set a buy rating on the stock in a research note on Tuesday, May 7th. Finally, JPMorgan Chase & Co. reduced 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. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $33.29.

EyePoint Pharmaceuticals Price Performance

Shares of NASDAQ EYPT opened at $8.70 on Thursday. The company has a market cap of $453.13 million, a P/E ratio of -4.78 and a beta of 1.59. The firm has a 50-day simple moving average of $11.79 and a two-hundred day simple moving average of $19.47. EyePoint Pharmaceuticals has a 1 year low of $5.67 and a 1 year high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly 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 the consensus estimate of $12.50 million. EyePoint Pharmaceuticals had a negative return on equity of 49.94% and a negative net margin of 157.77%. As a group, equities research analysts expect that EyePoint Pharmaceuticals will post -2.21 EPS for the current year.

Insider Activity

In other EyePoint Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp acquired 850,000 shares of EyePoint Pharmaceuticals stock in a transaction that occurred on 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 directly owns 8,325,000 shares of the company’s stock, valued at approximately $98,734,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director David R. Guyer sold 11,625 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $12.65, for a total value of $147,056.25. Following the sale, the director now directly owns 5,550 shares in the company, valued at approximately $70,207.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Cormorant Asset Management, Lp acquired 850,000 shares of EyePoint Pharmaceuticals stock in a transaction that occurred on Monday, May 6th. The shares were purchased at an average price of $11.86 per share, with a total value of $10,081,000.00. Following the purchase, the insider now owns 8,325,000 shares in the company, valued at $98,734,500. The disclosure for this purchase can be found here. Insiders own 4.74% of the company’s stock.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several institutional investors have recently bought and sold shares of EYPT. Jennison Associates LLC acquired a new position in shares of EyePoint Pharmaceuticals during the fourth quarter worth $24,641,000. RA Capital Management L.P. acquired a new position in EyePoint Pharmaceuticals during the 1st quarter valued at about $19,401,000. Franklin Resources Inc. increased its position in EyePoint Pharmaceuticals by 11.8% during the 4th quarter. Franklin Resources Inc. now owns 4,640,651 shares of the company’s stock valued at $107,245,000 after buying an additional 488,206 shares in the last quarter. Federated Hermes Inc. raised 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 buying an additional 445,289 shares during the last quarter. Finally, UBS Group AG boosted its holdings in EyePoint Pharmaceuticals by 487.6% in the third quarter. UBS Group AG now owns 526,848 shares of the company’s stock worth $4,210,000 after acquiring an additional 437,190 shares in the last quarter. 99.41% of the stock is currently owned by institutional investors and hedge funds.

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.