Analysts Set EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Price Target at $32.86

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has received an average rating of “Buy” from the seven analysts that are currently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $32.86.

EYPT has been the subject of a number of research reports. HC Wainwright restated a “buy” rating and set a $30.00 target price on shares of EyePoint Pharmaceuticals in a research report on Thursday, June 27th. Mizuho decreased their price objective on EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, May 7th. StockNews.com lowered EyePoint Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Chardan Capital reissued a “buy” rating and issued a $28.00 price target on shares of EyePoint Pharmaceuticals in a report on Friday, June 28th. Finally, Robert W. Baird lowered their price objective on EyePoint Pharmaceuticals from $46.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th.

Insiders Place Their Bets

In other news, Director David R. Guyer sold 11,625 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $10.06, for a total value of $116,947.50. Following the completion of the sale, the director now directly owns 1,850 shares in the company, valued at $18,611. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.74% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in EYPT. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 purchasing an additional 882 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in shares of EyePoint Pharmaceuticals by 44.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock worth $77,000 after purchasing an additional 1,136 shares during the last quarter. Arizona State Retirement System lifted its stake in EyePoint Pharmaceuticals by 9.7% in the 2nd quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $115,000 after buying an additional 1,171 shares in the last quarter. Essex Investment Management Co. LLC boosted its holdings in EyePoint Pharmaceuticals by 1.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 149,819 shares of the company’s stock worth $3,097,000 after buying an additional 2,278 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in EyePoint Pharmaceuticals by 26.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,040 shares of the company’s stock worth $373,000 after buying an additional 3,780 shares in the last quarter. Institutional investors and hedge funds own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Stock Performance

Shares of EYPT stock opened at $7.94 on Thursday. EyePoint Pharmaceuticals has a fifty-two week low of $5.67 and a fifty-two week high of $30.99. The firm has a market capitalization of $413.55 million, a PE ratio of -4.36 and a beta of 1.58. The stock’s 50-day simple moving average is $8.91 and its 200-day simple moving average is $15.98.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted 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 return on equity of 43.24% and a negative net margin of 172.29%. The business had revenue of $9.48 million for the quarter, compared to analysts’ expectations of $11.61 million. Sell-side analysts forecast that EyePoint Pharmaceuticals will post -2.34 earnings per share for the current year.

EyePoint Pharmaceuticals Company Profile

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.