Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Up 9.6% After Analyst Upgrade

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares traded up 9.6% during trading on Wednesday after Chardan Capital raised their price target on the stock from $29.00 to $65.00. Chardan Capital currently has a buy rating on the stock. Eyepoint Pharmaceuticals traded as high as $15.92 and last traded at $15.6660. 296,651 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,191,670 shares. The stock had previously closed at $14.30.

Several other equities research analysts have also recently commented on EYPT. Guggenheim reiterated a “buy” rating and issued a $68.00 price target on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, June 24th. HC Wainwright lifted their price objective on shares of Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Citigroup boosted their target price on shares of Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Tuesday, April 21st. Finally, Royal Bank Of Canada decreased their price target on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Eyepoint Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $43.83.

Insider Buying and Selling at Eyepoint Pharmaceuticals

In other news, insider Ramiro Ribeiro sold 2,437 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $15.00, for a total transaction of $36,555.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 5.13% of the stock is currently owned by company insiders.

Institutional Trading of Eyepoint Pharmaceuticals

A number of hedge funds have recently modified their holdings of EYPT. Cyndeo Wealth Partners LLC grew its holdings in shares of Eyepoint Pharmaceuticals by 3.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 22,990 shares of the company’s stock valued at $420,000 after buying an additional 760 shares in the last quarter. California State Teachers Retirement System lifted its stake in Eyepoint Pharmaceuticals by 20.6% in the 4th quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock worth $85,000 after acquiring an additional 794 shares in the last quarter. RWC Asset Management LLP boosted its position in Eyepoint Pharmaceuticals by 6.4% during the 4th quarter. RWC Asset Management LLP now owns 17,235 shares of the company’s stock worth $315,000 after acquiring an additional 1,040 shares during the period. MCF Advisors LLC grew its stake in Eyepoint Pharmaceuticals by 8.3% during the 4th quarter. MCF Advisors LLC now owns 14,921 shares of the company’s stock valued at $273,000 after acquiring an additional 1,149 shares in the last quarter. Finally, Raymond James Financial Inc. increased its holdings in shares of Eyepoint Pharmaceuticals by 11.0% in the 2nd quarter. Raymond James Financial Inc. now owns 11,900 shares of the company’s stock valued at $112,000 after purchasing an additional 1,177 shares during the period. Hedge funds and other institutional investors own 99.41% of the company’s stock.

Eyepoint Pharmaceuticals Stock Up 7.1%

The firm has a market capitalization of $1.28 billion, a PE ratio of -4.38 and a beta of 1.72. The business’s 50-day moving average price is $13.20 and its 200-day moving average price is $14.53.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results on Wednesday, May 6th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.20). The company had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.35 million. Eyepoint Pharmaceuticals had a negative return on equity of 110.54% and a negative net margin of 3,566.63%. On average, analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -3.09 EPS for the current fiscal year.

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.