H.C. Wainwright Keeps a Buy Rating on EyePoint Pharmaceuticals Inc (EYPT)

H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on EyePoint Pharmaceuticals Inc (NASDAQ: EYPT) today and set a price target of $2.75. The company’s shares closed yesterday at $2.28.

Selvaraju noted:

“We note that the next milestone for the company should be the potential approval of YUTIQ three-year treatment of posterior uveitis on or before the PDUFA date of November 5, 2018. As we roll forward our DCF analysis, our estimated market value of the firm has increased to $255M from $245M. Assuming 94.7M shares outstanding at the end of 3Q19, this translates to a per share value to approximately $2.75. Therefore, we reiterate our Buy rating and raise the 12-month price target to $2.75 from $2.50.”

According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 1.7% and a 45.0% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Synergy Pharmaceuticals Inc.

EyePoint Pharmaceuticals Inc has an analyst consensus of Moderate Buy, with a price target consensus of $2.75.

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The company has a one-year high of $2.88 and a one-year low of $0.93. Currently, EyePoint Pharmaceuticals Inc has an average volume of 256.5K.

Based on the recent corporate insider activity of 14 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. develops tiny, sustained-release products, which are designed to deliver drugs and biologics at a controlled and steady rate for weeks, months or years. The company through its technology platforms Duraser and Tethadur is focused on treatment of chronic diseases of the back of the eye and are also exploring applications outside ophthalmology. It is also developing a bioerodible, injectable micro-insert delivering latanoprost to treat glaucoma and ocular hypertension. The company was founded by Roger Aston in March 2008 and is headquartered in Watertown, MA.