Eyepoint Pharmaceuticals (NASDAQ:EYPT) Given New $8.00 Price Target at Jefferies Financial Group

Eyepoint Pharmaceuticals (NASDAQ:EYPT) had its price target decreased by analysts at Jefferies Financial Group from $30.00 to $8.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Jefferies Financial Group’s target price indicates a potential upside of 72.60% from the company’s current price.

Several other equities analysts have also recently commented on EYPT. Guggenheim reissued a “buy” rating and set a $68.00 target price on shares of Eyepoint Pharmaceuticals in a research note on Wednesday, June 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Friday, July 17th. Cantor Fitzgerald cut Eyepoint Pharmaceuticals from an “overweight” rating to a “neutral” rating in a report on Monday. JPMorgan Chase & Co. restated a “neutral” rating on shares of Eyepoint Pharmaceuticals in a research report on Monday. Finally, Stifel Nicolaus started coverage on Eyepoint Pharmaceuticals in a research note on Thursday, July 16th. They set a “buy” rating and a $40.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Eyepoint Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $40.33.

Eyepoint Pharmaceuticals Trading Down 68.6%

EYPT traded down $10.12 during trading hours on Monday, hitting $4.63. The company’s stock had a trading volume of 34,567,836 shares, compared to its average volume of 1,510,330. The company has a 50-day simple moving average of $13.23 and a 200 day simple moving average of $13.70. The firm has a market capitalization of $399.58 million, a PE ratio of -1.22 and a beta of 1.76. Eyepoint Pharmaceuticals has a fifty-two week low of $3.95 and a fifty-two week high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.08). Eyepoint Pharmaceuticals had a negative net margin of 10,994.73% and a negative return on equity of 135.81%. The business had revenue of $0.51 million for the quarter, compared to analyst estimates of $0.45 million. Research analysts expect that Eyepoint Pharmaceuticals will post -3.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Large investors have recently made changes to their positions in the business. KBC Group NV bought a new stake in shares of Eyepoint Pharmaceuticals in the 1st quarter worth approximately $29,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Eyepoint Pharmaceuticals by 51.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock valued at $74,000 after purchasing an additional 1,358 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Eyepoint Pharmaceuticals during the third quarter worth approximately $76,000. Tower Research Capital LLC TRC boosted its holdings in Eyepoint Pharmaceuticals by 218.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock worth $82,000 after buying an additional 5,967 shares in the last quarter. Finally, California State Teachers Retirement System grew its position in Eyepoint Pharmaceuticals by 20.6% in the fourth quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock worth $85,000 after buying an additional 794 shares during the last quarter. Institutional investors own 99.41% of the company’s stock.

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.