EyePoint Pharmaceuticals (NASDAQ:EYPT) PT Lowered to $38.00

EyePoint Pharmaceuticals (NASDAQ:EYPT) had its price objective decreased by stock analysts at Robert W. Baird from $46.00 to $38.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 220.13% from the company’s previous close.

EYPT has been the topic of a number of other reports. Mizuho decreased their target price on EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. started coverage on shares of EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 price objective on the stock. Chardan Capital dropped their price objective on shares of EyePoint Pharmaceuticals from $39.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday. Capital One Financial reissued an “overweight” rating on shares of EyePoint Pharmaceuticals in a research note on Friday, February 16th. Finally, HC Wainwright dropped their price target on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, January 16th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, EyePoint Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $34.14.

EyePoint Pharmaceuticals Trading Up 6.0 %

EYPT stock opened at $11.87 on Wednesday. The firm has a 50 day moving average of $20.96 and a 200-day moving average of $19.20. The firm has a market capitalization of $618.19 million, a P/E ratio of -6.49 and a beta of 1.70. EyePoint Pharmaceuticals has a 12 month low of $5.67 and a 12 month high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.27. The firm had revenue of $14.03 million during the quarter, compared to the consensus estimate of $8.71 million. EyePoint Pharmaceuticals had a negative net margin of 153.84% and a negative return on equity of 61.48%. During the same period last year, the firm earned ($0.61) EPS. Sell-side analysts predict that EyePoint Pharmaceuticals will post -1.73 EPS for the current year.

Insider Buying and Selling at EyePoint Pharmaceuticals

In related news, major shareholder Cormorant Asset Management, Lp acquired 581,765 shares of EyePoint Pharmaceuticals stock in a transaction dated Thursday, April 18th. The shares were purchased at an average cost of $18.03 per share, with a total value of $10,489,222.95. Following the completion of the purchase, the insider now owns 7,475,000 shares of the company’s stock, valued at $134,774,250. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 13.05% of the company’s stock.

Institutional Trading of EyePoint Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC bought a new stake in EyePoint Pharmaceuticals during the 4th quarter valued at $27,000. China Universal Asset Management Co. Ltd. bought a new position in shares of EyePoint Pharmaceuticals during the fourth quarter valued at about $94,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of EyePoint Pharmaceuticals during the third quarter worth about $101,000. Tower Research Capital LLC TRC grew its stake in shares of EyePoint Pharmaceuticals by 36.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock worth $109,000 after purchasing an additional 1,250 shares during the last quarter. Finally, Toth Financial Advisory Corp increased its holdings in EyePoint Pharmaceuticals by 42.9% during the 4th quarter. Toth Financial Advisory Corp now owns 5,000 shares of the company’s stock valued at $116,000 after purchasing an additional 1,500 shares during the period. Hedge funds and other institutional investors own 99.41% of the company’s stock.

About EyePoint Pharmaceuticals

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.