EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives Average Rating of “Buy” from Analysts

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have been assigned an average rating of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy rating. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $30.63.

EYPT has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, June 27th. JPMorgan Chase & Co. decreased their price objective on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Jefferies Financial Group began coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective for the company. Chardan Capital reaffirmed a “buy” rating and issued a $28.00 target price on shares of EyePoint Pharmaceuticals in a report on Friday, June 28th. Finally, StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a report on Thursday.

Insider Buying and Selling

In other news, Director David R. Guyer sold 11,625 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $10.06, for a total value of $116,947.50. Following the completion of the transaction, the director now owns 1,850 shares of the company’s stock, valued at $18,611. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 4.74% of the stock is currently owned by corporate insiders.

Institutional Trading of EyePoint Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Fiera Capital Corp lifted its stake in shares of EyePoint Pharmaceuticals by 0.9% in the second quarter. Fiera Capital Corp now owns 677,038 shares of the company’s stock worth $5,890,000 after acquiring an additional 5,920 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of EyePoint Pharmaceuticals in the 2nd quarter worth approximately $5,488,000. Perceptive Advisors LLC lifted its position in shares of EyePoint Pharmaceuticals by 8.6% in the 2nd quarter. Perceptive Advisors LLC now owns 640,274 shares of the company’s stock worth $5,570,000 after purchasing an additional 50,628 shares during the period. Deerfield Management Company L.P. Series C boosted its stake in shares of EyePoint Pharmaceuticals by 51.4% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock valued at $7,637,000 after purchasing an additional 298,196 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in shares of EyePoint Pharmaceuticals by 842.5% during the second quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock worth $4,143,000 after buying an additional 425,717 shares during the period. Institutional investors own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Price Performance

Shares of NASDAQ:EYPT opened at $7.97 on Monday. The business’s 50 day simple moving average is $8.88 and its 200 day simple moving average is $14.01. EyePoint Pharmaceuticals has a 1 year low of $5.67 and a 1 year high of $30.99. The company has a market capitalization of $415.11 million, a P/E ratio of -4.38 and a beta of 1.59.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). EyePoint Pharmaceuticals had a negative net margin of 172.29% and a negative return on equity of 43.24%. The company had revenue of $9.48 million for the quarter, compared to the consensus estimate of $11.61 million. On average, sell-side analysts anticipate that EyePoint Pharmaceuticals will post -2.33 EPS for the current fiscal 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.