Guggenheim Reiterates “Buy” Rating for Eyepoint Pharmaceuticals (NASDAQ:EYPT)

Eyepoint Pharmaceuticals (NASDAQ:EYPT)‘s stock had its “buy” rating reissued by Guggenheim in a report issued on Wednesday,Benzinga reports. They presently have a $68.00 price target on the stock. Guggenheim’s price objective points to a potential upside of 365.56% from the stock’s current price.

Several other brokerages have also commented on EYPT. Weiss Ratings reissued a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, April 21st. HC Wainwright upped their target price on shares of Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Chardan Capital increased their price target 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. Citigroup lifted their price target on shares of Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, March 9th. Finally, Royal Bank Of Canada dropped their price objective on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Eyepoint Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $37.83.

Eyepoint Pharmaceuticals Stock Up 1.6%

EYPT opened at $14.61 on Wednesday. The stock has a market cap of $1.22 billion, a PE ratio of -4.14 and a beta of 1.72. The business has a 50 day moving average of $13.26 and a 200-day moving average of $14.64. Eyepoint Pharmaceuticals has a 52 week low of $8.88 and a 52 week high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.79) by ($0.20). The firm had revenue of $0.70 million for the quarter, compared to the consensus estimate of $0.35 million. Eyepoint Pharmaceuticals had a negative net margin of 3,566.63% and a negative return on equity of 110.54%. Equities analysts anticipate that Eyepoint Pharmaceuticals will post -3.09 EPS for the current year.

Insider Buying and Selling

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 2,437 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $15.00, for a total transaction of $36,555.00. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.13% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Suvretta Capital Management LLC lifted its holdings in shares of Eyepoint Pharmaceuticals by 26.4% during the fourth quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock valued at $143,012,000 after purchasing an additional 1,634,970 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its stake 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 valued at $63,988,000 after acquiring an additional 600,000 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Eyepoint Pharmaceuticals by 36.3% during the 4th quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock valued at $109,938,000 after acquiring an additional 1,601,101 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Eyepoint Pharmaceuticals by 19.3% during the 4th quarter. Franklin Resources Inc. now owns 4,976,915 shares of the company’s stock valued at $90,928,000 after acquiring an additional 805,031 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Eyepoint Pharmaceuticals by 27.1% in the fourth quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock worth $88,100,000 after acquiring an additional 1,027,623 shares during the period. Hedge funds and other institutional investors own 99.41% of the company’s stock.

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.