EyePoint Pharmaceuticals (NASDAQ:EYPT) Price Target Cut to $30.00

EyePoint Pharmaceuticals (NASDAQ:EYPT) had its price target cut by investment analysts at Mizuho from $39.00 to $30.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Mizuho’s price target would suggest a potential upside of 159.52% from the company’s current price.

EYPT has been the topic of a number of other reports. JPMorgan Chase & Co. assumed coverage on shares of EyePoint Pharmaceuticals in a report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 price target on the stock. HC Wainwright lowered their target price on shares of EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, January 16th. Finally, Capital One Financial restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, EyePoint Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $34.14.

EyePoint Pharmaceuticals Trading Down 2.6 %

EyePoint Pharmaceuticals stock opened at $11.56 on Tuesday. The firm has a 50 day simple moving average of $20.64 and a 200 day simple moving average of $19.14. EyePoint Pharmaceuticals has a 1-year low of $5.67 and a 1-year high of $30.99. The firm has a market capitalization of $602.09 million, a price-to-earnings ratio of -6.32 and a beta of 1.70.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.27. EyePoint Pharmaceuticals had a negative return on equity of 61.48% and a negative net margin of 153.84%. The firm had revenue of $14.03 million during the quarter, compared to analyst estimates of $8.71 million. During the same period last year, the company earned ($0.61) earnings per share. On average, equities research analysts forecast that EyePoint Pharmaceuticals will post -1.73 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Cormorant Asset Management, Lp purchased 850,000 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were purchased at an average price of $11.86 per share, with a total value of $10,081,000.00. Following the acquisition, the insider now directly owns 8,325,000 shares of the company’s stock, valued at $98,734,500. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC bought a new position in shares of EyePoint Pharmaceuticals during the 4th quarter valued at $27,000. China Universal Asset Management Co. Ltd. bought a new position in shares of EyePoint Pharmaceuticals during the fourth quarter valued at about $94,000. Sherbrooke Park Advisers LLC purchased a new position in shares of EyePoint Pharmaceuticals in the third quarter worth about $101,000. Tower Research Capital LLC TRC lifted its stake in shares of EyePoint Pharmaceuticals by 36.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,724 shares of the company’s stock valued at $109,000 after acquiring an additional 1,250 shares during the last quarter. Finally, Toth Financial Advisory Corp boosted its holdings in EyePoint Pharmaceuticals by 42.9% during the 4th quarter. Toth Financial Advisory Corp now owns 5,000 shares of the company’s stock valued at $116,000 after acquiring an additional 1,500 shares during the period. 99.41% of the stock is currently owned by institutional investors.

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.