Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives $32.20 Consensus Target Price from Analysts

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has received a consensus rating of “Buy” from the eight analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $32.20.

A number of equities research analysts recently issued reports on the company. Cantor Fitzgerald upgraded Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, November 25th. HC Wainwright increased their target price on shares of Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock 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 note on Thursday, January 22nd. Citigroup boosted their price target on shares of 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 price target on shares of Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th.

Insider Transactions at Eyepoint Pharmaceuticals

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 42,544 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $17.10, for a total transaction of $727,502.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue purchased a new stake in Eyepoint Pharmaceuticals during the 3rd quarter worth about $50,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Eyepoint Pharmaceuticals by 51.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock valued at $74,000 after buying an additional 1,358 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Eyepoint Pharmaceuticals during the 3rd quarter valued at about $76,000. Tower Research Capital LLC TRC increased its position in shares of Eyepoint Pharmaceuticals by 218.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock valued at $82,000 after buying an additional 5,967 shares during the period. Finally, California State Teachers Retirement System increased its position in shares of Eyepoint Pharmaceuticals by 20.6% during the fourth quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock valued at $85,000 after buying an additional 794 shares during the period. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

Eyepoint Pharmaceuticals Price Performance

NASDAQ:EYPT opened at $13.20 on Friday. The company has a market capitalization of $1.10 billion, a P/E ratio of -4.18 and a beta of 1.72. The business has a fifty day simple moving average of $15.32 and a two-hundred day simple moving average of $14.49. Eyepoint Pharmaceuticals has a 1 year low of $3.91 and a 1 year high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, March 4th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.03). The firm had revenue of $0.62 million for the quarter, compared to analysts’ expectations of $1.01 million. Eyepoint Pharmaceuticals had a negative net margin of 739.39% and a negative return on equity of 88.31%. As a group, analysts anticipate that Eyepoint Pharmaceuticals will post -2.13 earnings per share for the current year.

Eyepoint Pharmaceuticals Company Profile

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.