HC Wainwright Has Lowered Expectations for Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Price

Eyepoint Pharmaceuticals (NASDAQ:EYPT) had its target price lowered by analysts at HC Wainwright from $30.00 to $27.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 94.38% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Chardan Capital increased their target price on shares of Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Cantor Fitzgerald began coverage on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, July 8th. They issued an “overweight” rating and a $47.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Friday, July 17th. Royal Bank Of Canada dropped their price objective on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Finally, Stifel Nicolaus assumed coverage on shares of Eyepoint Pharmaceuticals in a research note on Thursday, July 16th. They issued a “buy” rating and a $40.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $44.38.

Eyepoint Pharmaceuticals Price Performance

Eyepoint Pharmaceuticals stock opened at $13.89 on Thursday. The business has a 50 day simple moving average of $13.11 and a 200 day simple moving average of $13.78. The company has a market capitalization of $1.16 billion, a PE ratio of -3.71 and a beta of 1.76. Eyepoint Pharmaceuticals has a one year low of $9.65 and a one year high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.08). The company had revenue of $0.51 million for the quarter, compared to analyst estimates of $0.45 million. Eyepoint Pharmaceuticals had a negative return on equity of 135.81% and a negative net margin of 10,994.73%. Equities analysts anticipate that Eyepoint Pharmaceuticals will post -3.32 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 company. Suvretta Capital Management LLC increased its position in Eyepoint Pharmaceuticals by 26.4% in the fourth quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock worth $143,012,000 after purchasing an additional 1,634,970 shares during the period. Adage Capital Partners GP L.L.C. lifted its position 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 purchasing an additional 600,000 shares during the period. Federated Hermes Inc. boosted its stake in shares of Eyepoint Pharmaceuticals by 36.3% in the 4th quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock valued at $109,938,000 after purchasing an additional 1,601,101 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Eyepoint Pharmaceuticals by 19.3% in the 4th quarter. Franklin Resources Inc. now owns 4,976,915 shares of the company’s stock valued at $90,928,000 after purchasing an additional 805,031 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Eyepoint Pharmaceuticals by 27.1% during the 4th quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock worth $88,100,000 after buying an additional 1,027,623 shares during the period. Institutional investors and hedge funds 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.