Eyepoint Pharmaceuticals (NASDAQ:EYPT) Price Target Raised to $29.00

Eyepoint Pharmaceuticals (NASDAQ:EYPT) had its price target lifted by Chardan Capital from $27.00 to $29.00 in a research report sent to investors on Wednesday,Benzinga reports. Chardan Capital currently has a buy rating on the stock.

EYPT has been the topic of a number of other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Thursday, January 22nd. TD Cowen upgraded shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a report on Friday, December 19th. Cantor Fitzgerald upgraded shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, November 25th. Finally, Royal Bank Of Canada increased their price target on shares of Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $31.50.

Eyepoint Pharmaceuticals Stock Down 0.1%

Eyepoint Pharmaceuticals stock opened at $15.75 on Wednesday. The firm has a fifty day simple moving average of $15.66 and a two-hundred day simple moving average of $14.35. Eyepoint Pharmaceuticals has a twelve month low of $3.91 and a twelve month high of $19.11. The company has a market capitalization of $1.30 billion, a PE ratio of -4.98 and a beta of 1.72.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Wednesday, March 4th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.03). The company had revenue of $0.62 million for the quarter, compared to the consensus estimate of $1.01 million. Eyepoint Pharmaceuticals had a negative net margin of 739.39% and a negative return on equity of 93.46%. As a group, equities analysts expect that Eyepoint Pharmaceuticals will post -2.13 earnings per share for the current fiscal year.

Insider Transactions at Eyepoint Pharmaceuticals

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 42,544 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $17.10, for a total value of $727,502.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.46% of the company’s stock.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nisa Investment Advisors LLC raised its stake in Eyepoint Pharmaceuticals by 1,636.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock worth $27,000 after buying an additional 2,733 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Eyepoint Pharmaceuticals in the 3rd quarter worth about $50,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of 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 worth $74,000 after acquiring an additional 1,358 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in Eyepoint Pharmaceuticals during the 3rd quarter valued at about $76,000. Finally, Tower Research Capital LLC TRC lifted its position in Eyepoint Pharmaceuticals by 218.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock valued at $82,000 after acquiring an additional 5,967 shares during the period. Hedge funds and other institutional investors own 99.41% of the company’s stock.

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.