In a report released yesterday, Andrew D’silva from B.Riley FBR reiterated a Buy rating on EyePoint Pharmaceuticals Inc (EYPT), with a price target of $5.75. The company’s shares closed yesterday at $1.70.
D’silva observed:
“EyePoint Pharmaceuticals, Inc. (EYPT) reports 1Q19 results, BMO, this Wednesday, 5/8, and will hold a conference call at 8:30 a.m. ET (5:30 a.m. PT) the same day. (The dial-in and conference ID numbers are and 11.92368, respectively.) We are taking this opportunity to update our estimates to account for the company’s recent ~$20M equity financing. While we were not modeling a raise in 2019, the deal was not a complete surprise: We were modeling the company accessing the capital marketing for $48M in gross proceeds in 2020 to continue to help fund the commercialization of DEXYCU and YUTIQ—EYPT commercially launched both products during 1Q19.”
According to TipRanks.com, D’silva is a 4-star analyst with an average return of 7.4% and a 37.7% success rate. D’silva covers the Healthcare sector, focusing on stocks such as Sensus Healthcare Inc, Anixa Biosciences Inc, and Kindred Biosciences.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for EyePoint Pharmaceuticals Inc with a $5.25 average price target, a 208.8% upside from current levels. In a report issued on May 2, H.C. Wainwright also reiterated a Buy rating on the stock with a $4.50 price target.
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The company has a one-year high of $3.94 and a one-year low of $1.24. Currently, EyePoint Pharmaceuticals Inc has an average volume of 416.9K.
Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EYPT in relation to earlier this year.
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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.
