HC Wainwright Reaffirms Buy Rating for EyePoint Pharmaceuticals (NASDAQ:EYPT)

HC Wainwright reaffirmed their buy rating on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a research note issued to investors on Thursday, Benzinga reports. HC Wainwright currently has a $30.00 price objective on the stock.

A number of other brokerages also recently issued reports on EYPT. Chardan Capital dropped their price target on shares of EyePoint Pharmaceuticals from $39.00 to $28.00 and set a buy rating on the stock in a research report on Tuesday, May 7th. StockNews.com downgraded EyePoint Pharmaceuticals from a hold rating to a sell rating in a report on Thursday, May 9th. Robert W. Baird cut their target price on EyePoint Pharmaceuticals from $46.00 to $38.00 and set an outperform rating on the stock in a research report on Wednesday, May 8th. JPMorgan Chase & Co. lowered their target price on EyePoint Pharmaceuticals from $35.00 to $32.00 and set an overweight rating for the company in a report on Tuesday, June 4th. Finally, Cantor Fitzgerald reissued an overweight rating on shares of EyePoint Pharmaceuticals in a research note on Thursday, June 20th. One investment analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, EyePoint Pharmaceuticals has a consensus rating of Moderate Buy and an average price target of $33.29.

EyePoint Pharmaceuticals Stock Performance

EYPT stock opened at $8.70 on Thursday. The company has a market capitalization of $453.13 million, a P/E ratio of -4.78 and a beta of 1.59. The company has a fifty day moving average price of $11.79 and a 200-day moving average price of $19.47. EyePoint Pharmaceuticals has a 52-week low of $5.67 and a 52-week high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results on Wednesday, May 8th. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.21). The company had revenue of $11.68 million for the quarter, compared to analyst estimates of $12.50 million. EyePoint Pharmaceuticals had a negative return on equity of 49.94% and a negative net margin of 157.77%. As a group, sell-side analysts forecast that EyePoint Pharmaceuticals will post -2.21 earnings per share for the current fiscal year.

Insider Transactions at EyePoint Pharmaceuticals

In other EyePoint Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp purchased 850,000 shares of EyePoint Pharmaceuticals stock in a transaction that occurred on Monday, May 6th. The stock was acquired at an average price of $11.86 per share, with a total value of $10,081,000.00. Following the transaction, the insider now owns 8,325,000 shares in the company, valued at approximately $98,734,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other EyePoint Pharmaceuticals news, Director David R. Guyer sold 11,625 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $12.65, for a total transaction of $147,056.25. Following the completion of the sale, the director now directly owns 5,550 shares of the company’s stock, valued at approximately $70,207.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Cormorant Asset Management, Lp acquired 850,000 shares of the stock in a transaction dated Monday, May 6th. The stock was bought at an average cost of $11.86 per share, with a total value of $10,081,000.00. Following the completion of the purchase, the insider now owns 8,325,000 shares of the company’s stock, valued at $98,734,500. The disclosure for this purchase can be found here. 4.74% of the stock is owned by insiders.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. boosted its holdings in EyePoint Pharmaceuticals by 11.8% during the 4th quarter. Franklin Resources Inc. now owns 4,640,651 shares of the company’s stock worth $107,245,000 after acquiring an additional 488,206 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of EyePoint Pharmaceuticals by 17.8% during the first quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock valued at $49,530,000 after purchasing an additional 362,168 shares in the last quarter. Jennison Associates LLC purchased a new position in EyePoint Pharmaceuticals during the fourth quarter worth about $24,641,000. RA Capital Management L.P. bought a new stake in EyePoint Pharmaceuticals in the 1st quarter worth about $19,401,000. Finally, Federated Hermes Inc. increased its stake in EyePoint Pharmaceuticals by 194.0% in the 4th quarter. Federated Hermes Inc. now owns 674,824 shares of the company’s stock valued at $15,595,000 after buying an additional 445,289 shares during the last quarter. Institutional investors own 99.41% of the company’s stock.

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.