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

EyePoint Pharmaceuticals (NASDAQ:EYPT) had its price target dropped by Mizuho from $39.00 to $30.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Mizuho’s target price would suggest a potential upside of 167.86% from the company’s previous close.

A number of other analysts have also commented on EYPT. JPMorgan Chase & Co. assumed coverage on EyePoint Pharmaceuticals in a report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 target price for the company. 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 report 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 six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.50.

EyePoint Pharmaceuticals Trading Down 43.3 %

Shares of EYPT stock opened at $11.20 on Tuesday. The stock has a market capitalization of $583.30 million, a P/E ratio of -6.12 and a beta of 1.70. EyePoint Pharmaceuticals has a 12 month low of $5.67 and a 12 month high of $30.99. The firm’s 50 day moving average is $21.29 and its 200 day moving average is $19.17.

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

Insider Transactions at EyePoint Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp bought 581,765 shares of the firm’s stock in a transaction dated Thursday, April 18th. The stock was acquired at an average price of $18.03 per share, for a total transaction of $10,489,222.95. Following the acquisition, the insider now owns 7,475,000 shares of the company’s stock, valued at $134,774,250. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Franklin Resources Inc. lifted its stake in shares of EyePoint Pharmaceuticals by 11.8% in the fourth quarter. Franklin Resources Inc. now owns 4,640,651 shares of the company’s stock worth $107,245,000 after buying an additional 488,206 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter worth approximately $24,641,000. Federated Hermes Inc. boosted its holdings in EyePoint Pharmaceuticals by 194.0% during the fourth quarter. Federated Hermes Inc. now owns 674,824 shares of the company’s stock worth $15,595,000 after buying an additional 445,289 shares during the last quarter. UBS Group AG lifted its holdings in EyePoint Pharmaceuticals by 9.0% during the fourth quarter. UBS Group AG now owns 574,169 shares of the company’s stock worth $13,269,000 after acquiring an additional 47,321 shares in the last quarter. Finally, First Turn Management LLC acquired a new stake in EyePoint Pharmaceuticals in the 4th quarter valued at approximately $7,326,000. 99.41% of the stock is owned by institutional investors and hedge funds.

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.