Citigroup Boosts Eyepoint Pharmaceuticals (NASDAQ:EYPT) Price Target to $35.00

Eyepoint Pharmaceuticals (NASDAQ:EYPT) had its target price upped by equities research analysts at Citigroup from $31.00 to $35.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 125.08% from the stock’s current price.

A number of other brokerages have also recently issued reports on EYPT. Cantor Fitzgerald upgraded Eyepoint Pharmaceuticals to a “strong-buy” rating in a report on Tuesday, November 25th. TD Cowen upgraded shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a report on Friday, December 19th. HC Wainwright lifted their price target on shares of Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday. Chardan Capital boosted their price objective on shares of Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $32.20.

Eyepoint Pharmaceuticals Stock Performance

Eyepoint Pharmaceuticals stock traded down $0.20 during midday trading on Monday, reaching $15.55. The stock had a trading volume of 411,153 shares, compared to its average volume of 1,434,543. The stock’s 50-day simple moving average is $15.66 and its 200 day simple moving average is $14.39. Eyepoint Pharmaceuticals has a twelve month low of $3.91 and a twelve month high of $19.11. The stock has a market capitalization of $1.30 billion, a PE ratio of -4.92 and a beta of 1.72.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings results on Wednesday, March 4th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.03). The firm had revenue of $0.62 million for the quarter, compared to analyst estimates of $1.01 million. Eyepoint Pharmaceuticals had a negative return on equity of 88.31% and a negative net margin of 739.39%. Equities analysts predict that Eyepoint Pharmaceuticals will post -2.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Eyepoint Pharmaceuticals

In other news, insider Ramiro Ribeiro sold 42,544 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $17.10, for a total value of $727,502.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.46% of the stock is owned by insiders.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cyndeo Wealth Partners LLC boosted its holdings in Eyepoint Pharmaceuticals by 3.4% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 22,990 shares of the company’s stock worth $420,000 after acquiring an additional 760 shares during the period. California State Teachers Retirement System raised its stake in shares of Eyepoint Pharmaceuticals by 20.6% during the fourth quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock valued at $85,000 after purchasing an additional 794 shares during the period. RWC Asset Management LLP lifted its position in shares of Eyepoint Pharmaceuticals by 6.4% during the fourth quarter. RWC Asset Management LLP now owns 17,235 shares of the company’s stock worth $315,000 after purchasing an additional 1,040 shares in the last quarter. MCF Advisors LLC boosted its stake in shares of Eyepoint Pharmaceuticals by 8.3% in the fourth quarter. MCF Advisors LLC now owns 14,921 shares of the company’s stock valued at $273,000 after purchasing an additional 1,149 shares during the period. Finally, Raymond James Financial Inc. boosted its stake in shares of Eyepoint Pharmaceuticals by 11.0% in the second quarter. Raymond James Financial Inc. now owns 11,900 shares of the company’s stock valued at $112,000 after purchasing an additional 1,177 shares during the period. 99.41% of the stock is owned by institutional investors and hedge funds.

About Eyepoint Pharmaceuticals

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.