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

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) have been given an average rating of "Buy" by the seven analysts that are currently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation. The average 1 year price objective among analysts that have covered the stock in the last year is $33.86.

A number of research firms have recently commented on EYPT. Capital One Financial restated an "overweight" rating on shares of EyePoint Pharmaceuticals in a report on Friday, February 16th. HC Wainwright cut their price target 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. Mizuho upped their price target on shares of EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the stock a "buy" rating in a report on Friday, February 16th. Finally, JPMorgan Chase & Co. began coverage on shares of EyePoint Pharmaceuticals in a report on Monday, January 22nd. They issued an "overweight" rating and a $35.00 price target on the stock.

EyePoint Pharmaceuticals Stock Performance

EYPT stock traded down $0.44 during mid-day trading on Friday, reaching $22.45. 665,313 shares of the stock traded hands, compared to its average volume of 962,923. EyePoint Pharmaceuticals has a one year low of $3.36 and a one year high of $30.99. The stock has a market capitalization of $1.12 billion, a PE ratio of -12.27 and a beta of 1.64. The business has a 50-day moving average price of $24.58 and a two-hundred day moving average price of $17.92.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, topping analysts' consensus estimates of ($0.60) by $0.27. The firm 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 period in the prior year, the business posted ($0.61) earnings per share. On average, equities analysts expect that EyePoint Pharmaceuticals will post -1.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of EyePoint Pharmaceuticals

Several hedge funds have recently modified their holdings of EYPT. Price T Rowe Associates Inc. MD raised its position in shares of EyePoint Pharmaceuticals by 83.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,522,704 shares of the company's stock valued at $58,301,000 after purchasing an additional 1,148,358 shares during the last quarter. Jennison Associates LLC purchased a new position in shares of EyePoint Pharmaceuticals in the 4th quarter valued at approximately $24,641,000. Vanguard Group Inc. raised its position in shares of EyePoint Pharmaceuticals by 41.2% in the 4th quarter. Vanguard Group Inc. now owns 2,034,060 shares of the company's stock valued at $47,007,000 after purchasing an additional 593,336 shares during the last quarter. Franklin Resources Inc. raised its position in shares of EyePoint Pharmaceuticals by 11.8% in the 4th quarter. Franklin Resources Inc. now owns 4,640,651 shares of the company's stock valued at $107,245,000 after purchasing an additional 488,206 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in shares of EyePoint Pharmaceuticals by 194.0% in the 4th quarter. Federated Hermes Inc. now owns 674,824 shares of the company's stock valued at $15,595,000 after purchasing an additional 445,289 shares during the last quarter. 99.41% of the stock is owned by hedge funds and other institutional investors.

About EyePoint Pharmaceuticals

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.