EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives $33.86 Consensus Price Target from Brokerages

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has been assigned a consensus recommendation of “Buy” from the seven analysts that are covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have covered the stock in the last year is $33.86.

Several analysts recently weighed in on EYPT shares. Capital One Financial reaffirmed an “overweight” rating on shares of EyePoint Pharmaceuticals in a report on Friday, February 16th. HC Wainwright reduced their target price on shares of EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, January 16th. JPMorgan Chase & Co. started coverage on shares of EyePoint Pharmaceuticals in a report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 target price on the stock. Finally, Mizuho raised their target price on shares of EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the company a “buy” rating in a report on Friday, February 16th.

Insider Transactions at EyePoint Pharmaceuticals

In other news, insider Dario A. Paggiarino sold 5,135 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $25.00, for a total transaction of $128,375.00. Following the transaction, the insider now directly owns 36,505 shares in the company, valued at $912,625. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Dario A. Paggiarino sold 5,135 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $25.00, for a total transaction of $128,375.00. Following the transaction, the insider now directly owns 36,505 shares in the company, valued at $912,625. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dario A. Paggiarino sold 49,325 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $25.66, for a total transaction of $1,265,679.50. Following the transaction, the insider now owns 36,505 shares in the company, valued at $936,718.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,169 shares of company stock worth $1,437,509. Insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in EyePoint Pharmaceuticals by 41.1% in the 1st quarter. JPMorgan Chase & Co. now owns 15,730 shares of the company’s stock valued at $191,000 after buying an additional 4,578 shares during the last quarter. Bank of New York Mellon Corp grew its position in EyePoint Pharmaceuticals by 5.3% in the 1st quarter. Bank of New York Mellon Corp now owns 79,407 shares of the company’s stock valued at $966,000 after buying an additional 3,985 shares during the last quarter. MetLife Investment Management LLC grew its position in EyePoint Pharmaceuticals by 55.5% in the 1st quarter. MetLife Investment Management LLC now owns 12,835 shares of the company’s stock valued at $156,000 after buying an additional 4,582 shares during the last quarter. Rhumbline Advisers grew its position in EyePoint Pharmaceuticals by 33.8% in the 1st quarter. Rhumbline Advisers now owns 29,463 shares of the company’s stock valued at $358,000 after buying an additional 7,438 shares during the last quarter. Finally, BlackRock Inc. grew its position in EyePoint Pharmaceuticals by 5.9% in the 1st quarter. BlackRock Inc. now owns 1,526,153 shares of the company’s stock valued at $18,543,000 after buying an additional 85,522 shares during the last quarter. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

EyePoint Pharmaceuticals Stock Down 16.4 %

Shares of EYPT stock opened at $17.50 on Friday. EyePoint Pharmaceuticals has a 1-year low of $4.73 and a 1-year high of $30.99. The company has a 50-day moving average of $23.91 and a two-hundred day moving average of $18.27.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.33) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.60) by $0.27. The business had revenue of $14.03 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the company earned ($0.61) earnings per share. As a group, analysts expect that EyePoint Pharmaceuticals will post -1.73 EPS for the current year.

EyePoint Pharmaceuticals Company Profile

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.