Eyepoint Pharmaceuticals (NASDAQ:EYPT) Price Target Raised to $35.00

Eyepoint Pharmaceuticals (NASDAQ:EYPT) had its price objective lifted by Citigroup from $31.00 to $35.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also weighed in on EYPT. HC Wainwright upped their price objective on Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Chardan Capital boosted their target price on Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. TD Cowen upgraded Eyepoint Pharmaceuticals to a “strong-buy” rating in a report on Friday, December 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Thursday, January 22nd. Finally, Cantor Fitzgerald upgraded Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $32.20.

Eyepoint Pharmaceuticals Stock Performance

Shares of EYPT stock opened at $14.92 on Monday. Eyepoint Pharmaceuticals has a fifty-two week low of $3.91 and a fifty-two week high of $19.11. The company has a 50 day moving average price of $15.49 and a 200 day moving average price of $14.45. The stock has a market capitalization of $1.24 billion, a P/E ratio of -4.72 and a beta of 1.72.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results 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). Eyepoint Pharmaceuticals had a negative return on equity of 88.31% and a negative net margin of 739.39%.The business had revenue of $0.62 million for the quarter, compared to analyst estimates of $1.01 million. On average, research analysts forecast that Eyepoint Pharmaceuticals will post -2.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 42,544 shares of Eyepoint Pharmaceuticals stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $17.10, for a total transaction of $727,502.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Suvretta Capital Management LLC lifted its stake in Eyepoint Pharmaceuticals by 26.4% during the fourth quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock worth $143,012,000 after purchasing an additional 1,634,970 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Eyepoint Pharmaceuticals by 9.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock valued at $63,988,000 after purchasing an additional 600,000 shares during the last quarter. Federated Hermes Inc. grew its position in shares of Eyepoint Pharmaceuticals by 36.3% in the 4th quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock valued at $109,938,000 after buying an additional 1,601,101 shares during the last quarter. Franklin Resources Inc. raised its stake in Eyepoint Pharmaceuticals by 19.3% during the 4th quarter. Franklin Resources Inc. now owns 4,976,915 shares of the company’s stock worth $90,928,000 after acquiring an additional 805,031 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Eyepoint Pharmaceuticals by 27.1% in the fourth quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock valued at $88,100,000 after acquiring an additional 1,027,623 shares during the last quarter. Institutional investors and hedge funds own 99.41% of the company’s stock.

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.