EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Given Consensus Rating of “Buy” by Brokerages

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have received a consensus rating of “Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $32.86.

A number of research analysts recently issued reports on EYPT shares. JPMorgan Chase & Co. lowered their target price on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, June 27th. Robert W. Baird cut their target price 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. Cantor Fitzgerald restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Thursday, June 20th. Finally, Mizuho dropped their price target on EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating on the stock in a 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 that occurred on Friday, July 12th. The shares were sold at an average price of $10.06, for a total value of $116,947.50. Following the completion of the transaction, the director now owns 1,850 shares of the company’s stock, valued at approximately $18,611. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.74% of the stock is currently owned by insiders.

Institutional Trading of EyePoint Pharmaceuticals

Hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of EyePoint Pharmaceuticals by 6.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,584 shares of the company’s stock valued at $360,000 after buying an additional 882 shares in the last quarter. Federated Hermes Inc. increased its holdings in shares of EyePoint Pharmaceuticals by 194.0% in the 4th quarter. Federated Hermes Inc. now owns 674,824 shares of the company’s stock valued at $15,595,000 after purchasing an additional 445,289 shares during the period. Jennison Associates LLC purchased a new stake in shares of EyePoint Pharmaceuticals in the fourth quarter worth approximately $24,641,000. New York State Common Retirement Fund lifted its position in shares of EyePoint Pharmaceuticals by 176.6% in the fourth quarter. New York State Common Retirement Fund now owns 21,511 shares of the company’s stock worth $497,000 after purchasing an additional 13,735 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of EyePoint Pharmaceuticals during the fourth quarter worth approximately $659,000. Hedge funds and other institutional investors own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Price Performance

EyePoint Pharmaceuticals stock opened at $7.94 on Thursday. EyePoint Pharmaceuticals has a 12-month low of $5.67 and a 12-month high of $30.99. The stock has a market capitalization of $413.55 million, a PE ratio of -4.36 and a beta of 1.58. The firm has a 50 day simple moving average of $8.91 and a 200-day simple moving average of $15.98.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $11.61 million. On average, analysts forecast that EyePoint Pharmaceuticals will post -2.34 earnings per share for the current fiscal 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.