B.Riley FBR analyst Andrew D’silva maintained a Buy rating on EyePoint Pharmaceuticals Inc (EYPT) yesterday and set a price target of $6. The company’s shares closed yesterday at $2.55.
D’silva wrote:
“EyePoint Pharmaceuticals (EYPT) reports 4Q18 results BMO, 3/14, and will hold a conference call at 8:30 a.m. ET. (The dial-in and conference ID numbers are 877.312.7507 and 1499363, respectively.) Recall, EYPT is changing its FYE from June to December. At this time, we believe we’re the only firm on the Street to update our model for this change. Due to the FYE change, FactSet is not providing consensus estimates for EYPT’s December quarter. Meanwhile, we are updating our estimates to account for recent events, which include updating 4Q18 to account for Iluvien royalties that should be recognized during the quarter, as Iluvien product sales came in at $15.1M, $3M above our initial projection.”
According to TipRanks.com, D’silva is a 4-star analyst with an average return of 10.2% and a 46.0% success rate. D’silva covers the Healthcare sector, focusing on stocks such as Oramed Pharmaceuticals, Sorrento Therapeutics, and Sensus Healthcare Inc.
Currently, the analyst consensus on EyePoint Pharmaceuticals Inc is a Moderate Buy with an average price target of $5.50, which is an 115.7% upside from current levels. In a report released today, H.C. Wainwright also reiterated a Buy rating on the stock with a $5 price target.
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The company has a one-year high of $3.94 and a one-year low of $1.05. Currently, EyePoint Pharmaceuticals Inc has an average volume of 382K.
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EyePoint Pharmaceuticals, Inc. is a biopharmaceutical company. It engages in the development and commercializing of ophthalmic products. It offers FDA-approved sustained-release treatments in ophthalmology under the DEXYCU, ILUVIEN, Verisome, Retisert, and Durasert brands. The company was founded in 1987 and is headquartered in Watertown, MA.
