Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Eyepoint Pharmaceuticals has an average analyst rating of “Moderate Buy” from eight covering firms, with a consensus 12-month price target of about $44.29. The current mix includes one sell, six buy, and one strong buy rating.
• Several brokerages recently adjusted their views, including Chardan Capital raising its target to $65 and Cantor Fitzgerald initiating coverage with an overweight rating and a $47 target. Guggenheim also reiterated a buy rating with a $68 price objective, while Weiss Ratings remained bearish.
• The company’s latest earnings were weaker than expected, with EPS of -$0.99 versus estimates of -$0.79, though revenue came in above forecasts. Shares were trading around $13.85, well below the broader analyst price targets.

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) has received an average recommendation of "Moderate Buy" from the eight research firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $44.2857.

Several brokerages recently weighed in on EYPT. Weiss Ratings restated a "sell (d-)" rating on shares of Eyepoint Pharmaceuticals in a research note on Tuesday, April 21st. Royal Bank Of Canada lowered their price target on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an "outperform" rating for the company in a report on Thursday, May 7th. Chardan Capital boosted their price target on Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, July 1st. Cantor Fitzgerald assumed coverage on shares of Eyepoint Pharmaceuticals in a report on Wednesday, July 8th. They set an "overweight" rating and a $47.00 price objective on the stock. Finally, Guggenheim restated a "buy" rating and set a $68.00 price objective on shares of Eyepoint Pharmaceuticals in a report on Wednesday, June 24th.

Eyepoint Pharmaceuticals Trading Up 0.9%

EYPT opened at $13.85 on Thursday. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -3.96 and a beta of 1.73. Eyepoint Pharmaceuticals has a 12 month low of $9.40 and a 12 month high of $19.11. The stock has a fifty day moving average price of $13.27 and a 200-day moving average price of $14.28.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last issued its quarterly 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). Eyepoint Pharmaceuticals had a negative return on equity of 110.54% and a negative net margin of 3,566.63%.The business had revenue of $0.70 million for the quarter, compared to analyst estimates of $0.35 million. On average, equities research analysts forecast that Eyepoint Pharmaceuticals will post -3.22 EPS for the current year.

Insiders Place Their Bets

In other Eyepoint Pharmaceuticals 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 filing with the SEC, which is available at this link. Corporate insiders own 5.13% of the company's stock.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in EYPT. Rhumbline Advisers grew its holdings in shares of Eyepoint Pharmaceuticals by 11.0% during the second quarter. Rhumbline Advisers now owns 96,280 shares of the company's stock valued at $906,000 after buying an additional 9,548 shares during the last quarter. American Century Companies Inc. raised its stake in Eyepoint Pharmaceuticals by 57.8% in the 2nd quarter. American Century Companies Inc. now owns 67,612 shares of the company's stock worth $636,000 after acquiring an additional 24,752 shares during the last quarter. Invesco Ltd. lifted its position in Eyepoint Pharmaceuticals by 199.8% during the 2nd quarter. Invesco Ltd. now owns 128,772 shares of the company's stock worth $1,212,000 after acquiring an additional 85,824 shares during the period. Raymond James Financial Inc. lifted its position in Eyepoint Pharmaceuticals by 11.0% during the 2nd quarter. Raymond James Financial Inc. now owns 11,900 shares of the company's stock worth $112,000 after acquiring an additional 1,177 shares during the period. Finally, Adage Capital Partners GP L.L.C. lifted its position in Eyepoint Pharmaceuticals by 9.7% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company's stock worth $63,988,000 after acquiring an additional 600,000 shares during the period. 99.41% of the stock is currently owned by institutional investors and hedge funds.

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.

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