Royal Bank Of Canada Has Lowered Expectations for Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Price

Eyepoint Pharmaceuticals (NASDAQ:EYPT) had its price target reduced by equities research analysts at Royal Bank Of Canada from $39.00 to $37.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 175.40% from the stock’s previous close.

A number of other analysts have also weighed in on EYPT. Chardan Capital upped their price objective on Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Citigroup upped their price objective on Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. HC Wainwright upped their price objective on Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Eyepoint Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $31.80.

Eyepoint Pharmaceuticals Stock Performance

Shares of Eyepoint Pharmaceuticals stock traded up $0.09 during trading hours on Thursday, reaching $13.44. 468,946 shares of the company were exchanged, compared to its average volume of 1,212,979. Eyepoint Pharmaceuticals has a 1 year low of $5.30 and a 1 year high of $19.11. The stock’s fifty day moving average is $14.40 and its 200 day moving average is $14.60. The firm has a market cap of $1.13 billion, a PE ratio of -4.25 and a beta of 1.76.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings data on Wednesday, May 6th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.20). Eyepoint Pharmaceuticals had a negative return on equity of 88.31% and a negative net margin of 739.39%.The company had revenue of $0.70 million for the quarter, compared to analysts’ expectations of $0.35 million. Research analysts expect that Eyepoint Pharmaceuticals will post -3.01 earnings per share for the current year.

Insider Transactions at Eyepoint Pharmaceuticals

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 2,437 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $15.00, for a total value of $36,555.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.46% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. Suvretta Capital Management LLC boosted its stake 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 valued at $143,012,000 after acquiring an additional 1,634,970 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Eyepoint Pharmaceuticals by 9.7% in the second 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 in the last quarter. Federated Hermes Inc. boosted its stake in Eyepoint Pharmaceuticals by 36.3% in the fourth 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 in the last quarter. Franklin Resources Inc. boosted its stake in Eyepoint Pharmaceuticals by 19.3% in the fourth 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 in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Eyepoint Pharmaceuticals by 27.1% in the fourth quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock valued at $88,100,000 after acquiring an additional 1,027,623 shares in the last quarter. Institutional investors and hedge funds 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.