EyePoint Pharmaceuticals (NASDAQ:EYPT) Given New $30.00 Price Target at HC Wainwright

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) had its target price decreased by HC Wainwright from $33.00 to $30.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's price objective points to a potential upside of 145.50% from the stock's current price.

A number of other equities research analysts have also recently commented on EYPT. JPMorgan Chase & Co. started coverage on EyePoint Pharmaceuticals in a report on Monday, January 22nd. They set an "overweight" rating and a $35.00 target price on the stock. Chardan Capital dropped their price objective on EyePoint Pharmaceuticals from $39.00 to $28.00 and set a "buy" rating for the company in a research report on Tuesday, May 7th. Capital One Financial reissued an "overweight" rating on shares of EyePoint Pharmaceuticals in a research note on Friday, February 16th. Robert W. Baird decreased their price target on shares of EyePoint Pharmaceuticals from $46.00 to $38.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 8th. Finally, StockNews.com downgraded shares of EyePoint Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.71.

EyePoint Pharmaceuticals Trading Up 1.1 %

Shares of EYPT stock traded up $0.13 during mid-day trading on Monday, reaching $12.22. The stock had a trading volume of 1,181,901 shares, compared to its average volume of 1,136,996. The company has a market cap of $636.47 million, a P/E ratio of -6.71 and a beta of 1.70. EyePoint Pharmaceuticals has a 12-month low of $5.67 and a 12-month high of $30.99. The business has a 50-day simple moving average of $19.75 and a 200 day simple moving average of $19.35.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last posted its earnings results on Thursday, March 7th. The company reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.27. EyePoint Pharmaceuticals had a negative net margin of 157.77% and a negative return on equity of 49.94%. The firm had revenue of $14.03 million during the quarter, compared to the consensus estimate of $8.71 million. During the same period last year, the firm posted ($0.61) EPS. Research analysts anticipate that EyePoint Pharmaceuticals will post -1.85 EPS for the current year.

Insider Activity

In related news, major shareholder Cormorant Asset Management, Lp bought 850,000 shares of the firm's stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average cost of $11.86 per share, with a total value of $10,081,000.00. Following the completion of the transaction, the insider now owns 8,325,000 shares of the company's stock, valued at $98,734,500. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 13.05% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new stake in EyePoint Pharmaceuticals during the fourth quarter worth about $27,000. Ameritas Investment Partners Inc. increased its position in EyePoint Pharmaceuticals by 44.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company's stock worth $77,000 after purchasing an additional 1,136 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in EyePoint Pharmaceuticals in the fourth quarter valued at approximately $94,000. Sherbrooke Park Advisers LLC acquired a new position in EyePoint Pharmaceuticals during the third quarter valued at approximately $101,000. Finally, Tower Research Capital LLC TRC grew its stake in EyePoint Pharmaceuticals by 36.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company's stock worth $109,000 after buying an additional 1,250 shares during the period. 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.