Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Expected to Rise, Chardan Capital Analyst Says

Eyepoint Pharmaceuticals (NASDAQ:EYPT) had its target price increased by equities research analysts at Chardan Capital from $29.00 to $65.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Chardan Capital’s price objective suggests a potential upside of 355.34% from the stock’s previous close.

A number of other brokerages have also recently issued reports on EYPT. Royal Bank Of Canada decreased their target price on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Guggenheim restated a “buy” rating and issued a $68.00 price target on shares of Eyepoint Pharmaceuticals in a report on Wednesday, June 24th. HC Wainwright lifted their price target on shares of Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the company 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 Tuesday, April 21st. Finally, Citigroup increased their price objective on shares of Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $43.83.

Eyepoint Pharmaceuticals Trading Up 1.2%

Shares of Eyepoint Pharmaceuticals stock opened at $14.28 on Wednesday. The business’s fifty day moving average price is $13.20 and its 200 day moving average price is $14.53. Eyepoint Pharmaceuticals has a twelve month low of $8.95 and a twelve month high of $19.11. The stock has a market capitalization of $1.20 billion, a P/E ratio of -4.08 and a beta of 1.72.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.20). The firm 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%. As a group, sell-side analysts predict that Eyepoint Pharmaceuticals will post -3.09 EPS for the current year.

Insider Activity at Eyepoint Pharmaceuticals

In other news, insider Ramiro Ribeiro sold 2,437 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $15.00, for a total value of $36,555.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.13% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Janus Henderson Group PLC purchased a new position in Eyepoint Pharmaceuticals in the 4th quarter worth approximately $53,658,000. Commodore Capital LP purchased a new stake in shares of Eyepoint Pharmaceuticals during the first quarter valued at approximately $36,414,000. Paradigm Biocapital Advisors LP acquired a new position in shares of Eyepoint Pharmaceuticals during the third quarter worth $28,556,000. Orbimed Advisors LLC acquired a new position in shares of Eyepoint Pharmaceuticals during the third quarter worth $25,575,000. Finally, Suvretta Capital Management LLC boosted its stake in shares of Eyepoint Pharmaceuticals by 26.4% in the fourth quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock valued at $143,012,000 after purchasing an additional 1,634,970 shares during the period. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

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.