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

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has been assigned a consensus rating of “Buy” from the seven ratings firms that are presently covering the company, MarketBeat reports. Seven analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $33.86.

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

EyePoint Pharmaceuticals Stock Up 2.6 %

EyePoint Pharmaceuticals stock opened at $21.84 on Friday. The stock has a market capitalization of $1.09 billion, a PE ratio of -11.93 and a beta of 1.64. EyePoint Pharmaceuticals has a twelve month low of $4.22 and a twelve month high of $30.99. The company has a 50 day moving average of $24.31 and a 200-day moving average of $18.25.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted 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 firm had revenue of $14.03 million for the quarter, compared to analyst estimates 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 firm posted ($0.61) earnings per share. Equities analysts anticipate that EyePoint Pharmaceuticals will post -1.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Dario A. Paggiarino sold 49,325 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 36,505 shares of the company’s stock, valued at approximately $936,718.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Dario A. Paggiarino sold 5,135 shares of EyePoint Pharmaceuticals stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $25.00, for a total value of $128,375.00. Following the completion of the sale, the insider now owns 36,505 shares of the company’s stock, valued at approximately $912,625. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Dario A. Paggiarino sold 49,325 shares of EyePoint Pharmaceuticals stock in a transaction 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 directly owns 36,505 shares in the company, valued at $936,718.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,169 shares of company stock worth $1,437,509. 13.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG raised its stake in EyePoint Pharmaceuticals by 4.0% in the 3rd quarter. Deutsche Bank AG now owns 21,764 shares of the company’s stock valued at $174,000 after acquiring an additional 830 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of EyePoint Pharmaceuticals by 6.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,584 shares of the company’s stock worth $360,000 after purchasing an additional 882 shares in the last quarter. American International Group Inc. boosted its stake in EyePoint Pharmaceuticals by 10.2% in the first quarter. American International Group Inc. now owns 12,370 shares of the company’s stock worth $150,000 after buying an additional 1,142 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in EyePoint Pharmaceuticals in the fourth quarter worth approximately $27,000. Finally, Tower Research Capital LLC TRC boosted its stake in EyePoint Pharmaceuticals by 36.0% in 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 in the last quarter. 99.41% of the stock is currently owned by 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.