Eyepoint Pharmaceuticals (NASDAQ:EYPT) Price Target Cut to $37.00 by Analysts at Royal Bank Of Canada

Eyepoint Pharmaceuticals (NASDAQ:EYPT) had its price objective cut by Royal Bank Of Canada from $39.00 to $37.00 in a report issued on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research analysts also recently weighed in on EYPT. HC Wainwright upped their price objective 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. Chardan Capital increased their price objective on Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Citigroup raised their price objective on Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the company a “buy” rating in a report on Monday, March 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Eyepoint Pharmaceuticals has an average rating of “Buy” and an average price target of $31.80.

Eyepoint Pharmaceuticals Trading Up 1.2%

Shares of EYPT stock traded up $0.17 during mid-day trading on Thursday, reaching $13.58. The stock had a trading volume of 318,665 shares, compared to its average volume of 1,209,758. Eyepoint Pharmaceuticals has a 1-year low of $5.30 and a 1-year high of $19.11. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -3.87 and a beta of 1.76. The business’s fifty day moving average is $14.33 and its 200-day moving average is $14.62.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Wednesday, May 6th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.20). Eyepoint Pharmaceuticals had a negative net margin of 3,566.63% and a negative return on equity of 108.31%. The firm had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.35 million. On average, analysts forecast that Eyepoint Pharmaceuticals will post -3.01 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Ramiro Ribeiro sold 2,437 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $15.00, for a total transaction of $36,555.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.46% of the stock is owned by company insiders.

Institutional Trading of Eyepoint Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of EYPT. KBC Group NV purchased a new stake in shares of Eyepoint Pharmaceuticals in the 1st quarter valued at approximately $29,000. State of Alaska Department of Revenue purchased a new position in shares of Eyepoint Pharmaceuticals during the 3rd quarter worth approximately $50,000. Mirae Asset Global Investments Co. Ltd. increased its holdings 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. Russell Investments Group Ltd. purchased a new position in shares of Eyepoint Pharmaceuticals during the third quarter worth $76,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Eyepoint Pharmaceuticals by 218.3% in 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 in the last quarter. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

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.