EyePoint Pharmaceuticals (NASDAQ:EYPT) Given New $28.00 Price Target at Chardan Capital

EyePoint Pharmaceuticals (NASDAQ:EYPT) had its price objective dropped by Chardan Capital from $39.00 to $28.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Chardan Capital’s price target indicates a potential upside of 150.00% from the stock’s previous close.

EYPT has been the topic of several other research reports. Mizuho reduced their price target on shares of EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. initiated coverage on EyePoint Pharmaceuticals in a research note on Monday, January 22nd. They set an “overweight” rating and a $35.00 price objective on the stock. HC Wainwright decreased their price target on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, January 16th. Finally, Capital One Financial reiterated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, EyePoint Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $33.50.

EyePoint Pharmaceuticals Trading Down 43.3 %

EyePoint Pharmaceuticals stock opened at $11.20 on Tuesday. EyePoint Pharmaceuticals has a 12-month low of $5.67 and a 12-month high of $30.99. The firm has a market capitalization of $583.30 million, a price-to-earnings ratio of -6.12 and a beta of 1.70. The firm has a 50 day moving average of $21.29 and a 200 day moving average of $19.17.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Thursday, March 7th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.27. EyePoint Pharmaceuticals had a negative net margin of 153.84% and a negative return on equity of 61.48%. The firm had revenue of $14.03 million during the quarter, compared to analysts’ expectations of $8.71 million. During the same period in the prior year, the company posted ($0.61) earnings per share. On average, analysts predict that EyePoint Pharmaceuticals will post -1.73 EPS for the current year.

Insider Buying and Selling at EyePoint Pharmaceuticals

In other EyePoint Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp purchased 581,765 shares of the stock in a transaction dated Thursday, April 18th. The stock was purchased at an average price of $18.03 per share, with a total value of $10,489,222.95. Following the transaction, the insider now owns 7,475,000 shares of the company’s stock, valued at $134,774,250. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 13.05% of the company’s stock.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC purchased a new stake in shares of EyePoint Pharmaceuticals during the fourth quarter valued at about $27,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter valued at $94,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of EyePoint Pharmaceuticals in the 3rd quarter worth $101,000. Tower Research Capital LLC TRC grew its stake in EyePoint Pharmaceuticals by 36.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock worth $109,000 after buying an additional 1,250 shares during the last quarter. Finally, Toth Financial Advisory Corp increased its position 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 buying an additional 1,500 shares in the last quarter. 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.