Commodore Capital LP Acquires Shares of 2,825,000 Eyepoint Pharmaceuticals, Inc. $EYPT

Commodore Capital LP purchased a new stake in shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,825,000 shares of the company’s stock, valued at approximately $36,414,000. Eyepoint Pharmaceuticals accounts for about 2.1% of Commodore Capital LP’s portfolio, making the stock its 18th biggest holding. Commodore Capital LP owned about 3.37% of Eyepoint Pharmaceuticals at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in EYPT. Rhumbline Advisers increased its holdings in Eyepoint Pharmaceuticals by 11.0% in the second quarter. Rhumbline Advisers now owns 96,280 shares of the company’s stock valued at $906,000 after purchasing an additional 9,548 shares during the last quarter. American Century Companies Inc. increased its stake in Eyepoint Pharmaceuticals by 57.8% in the second quarter. American Century Companies Inc. now owns 67,612 shares of the company’s stock valued at $636,000 after purchasing an additional 24,752 shares in the last quarter. Invesco Ltd. raised its holdings in Eyepoint Pharmaceuticals by 199.8% in the second quarter. Invesco Ltd. now owns 128,772 shares of the company’s stock worth $1,212,000 after purchasing an additional 85,824 shares during the period. Raymond James Financial Inc. boosted its position in shares of Eyepoint Pharmaceuticals by 11.0% during the second quarter. Raymond James Financial Inc. now owns 11,900 shares of the company’s stock worth $112,000 after purchasing an additional 1,177 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Eyepoint Pharmaceuticals by 9.7% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock valued at $63,988,000 after buying an additional 600,000 shares in the last quarter. 99.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on EYPT shares. Chardan Capital boosted their price objective on Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Royal Bank Of Canada lowered their price objective on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Guggenheim reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, June 24th. Stifel Nicolaus assumed coverage on Eyepoint Pharmaceuticals in a report on Thursday, July 16th. They set a “buy” rating and a $40.00 target price for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Eyepoint Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.75.

Eyepoint Pharmaceuticals Stock Performance

Shares of NASDAQ EYPT opened at $12.19 on Monday. The company has a market capitalization of $1.02 billion, a P/E ratio of -3.48 and a beta of 1.73. Eyepoint Pharmaceuticals, Inc. has a 12 month low of $9.40 and a 12 month high of $19.11. The stock has a 50 day moving average of $13.19 and a 200-day moving average of $14.03.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its earnings results on Wednesday, May 6th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.20). The company had revenue of $0.70 million for the quarter, compared to analyst estimates of $0.35 million. Eyepoint Pharmaceuticals had a negative return on equity of 110.54% and a negative net margin of 3,566.63%. Analysts predict that Eyepoint Pharmaceuticals, Inc. will post -3.3 EPS for the current fiscal 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.