H.C. Wainwright analyst Ram Selvaraju reiterated a Buy rating on EyePoint Pharmaceuticals Inc (EYPT) today and set a price target of $4.50. The company’s shares closed yesterday at $1.62, close to its 52-week low of $1.24.
Selvaraju commented:
“We note that this is the first quarter that the company reports product sales after the commercial launch of YUTIQ and DEXYCU. the company launched YUTIQ (fluocinolone acetonide intravitreal implant) 0.18 mg for up to three years of continuous treatment of chronic, non-infectious posterior segment uveitis. YUTIQ sales in 1Q19 were $543K based on roughly 77 units delivered to distributors. the company launched DEXYCU (dexamethasone intraocular suspension) 9% as a single dose intraocular steroid product for the treatment of post-operative ocular inflammation. DEXYCU sales in 1Q19 were $684K based on roughly 1352 units delivered to distributors. In our view, these market uptake data are impressive given the short period of time the products are available during 1Q19.”
According to TipRanks.com, Selvaraju is a 3-star analyst with an average return of 2.7% and a 37.4% success rate. Selvaraju covers the Healthcare sector, focusing on stocks such as Biospecifics Technologies Corp, Bausch Health Companies Inc, and Fennec Pharmaceuticals Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for EyePoint Pharmaceuticals Inc with a $5.13 average price target, which is a 216.7% upside from current levels. In a report released today, B.Riley FBR also maintained a Buy rating on the stock with a $5.75 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 422.9K.
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.
