An Important Check-Up On EyePoint Pharmaceuticals Inc. (NASDAQ: EYPT)

Franklin Advisers, Inc. has recently announced that it has increased stake in EyePoint Pharmaceuticals Inc. (NASDAQ:EYPT) by 2.87%. After grabbing 5.57 million shares, the institutional investor is now in possession of 0.16 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 16.34% having worth around $17.82 million. Moreover, Suvretta Capital Management LLC increased its share by 0.27 million to have a control over 3.23 million shares. And BlackRock Fund Advisors raised its holdings to 82417.0 shares by acquiring 1.46 million shares or 4.29% of the stake.

EyePoint Pharmaceuticals Inc. (EYPT) concluded trading on 01/11/23 at a closing price of $3.80, with 0.65 million shares of worth about $2.49 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -54.82% during that period and on Wednesday the price saw a gain of about 14.80%. Currently the company’s common shares owned by public are about 37.34M shares, out of which, 30.42M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 6 analysts are covering the EYPT stock and their offered price forecasts bring an average price target of $32.33. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $52.00 and could fall to a lowest price of $21.00. The stock’s current price level is 88.25% above of average price target set by the analysts, while a rise to estimated low would result in gain of 81.9% for the stock. However, touching the estimated high of $52.00 would mean a gain of 92.69% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 16 times over the past 12 months. They bought 83,116 shares in 11 of the transactions. In 5 selling transactions, insiders dumped 10,097 shares.

FTIF SICAV – Biotechnology Discov, Franklin Small Cap Growth Fund, and Franklin Biotechnology Discovery are the top 3 mutual funds which are holding stakes in EyePoint Pharmaceuticals Inc. FTIF SICAV – Biotechnology Discov is currently holding 2.38 million shares of worth totaling $7.63 million. The company recently came buying 0.0 shares which brought its stake up to 7.00% of the company’s outstanding shares. Franklin Biotechnology Discovery, after buying 1.17 million shares, have now control over 3.44% of the stake in the company. It holds 0.0 shares of worth $3.75 million.

However, the stock later moved at a day high price of 3.8400, or with a gain of 14.80%. Stock saw a price change of 14.11% in past 5 days and over the past one month there was a price change of 30.58%. Year-to-date (YTD), EYPT shares are showing a performance of 8.57% which decreased to -69.89% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.19 but also hit the highest price of $14.41 during that period. The average intraday trading volume for EyePoint Pharmaceuticals Inc. shares is 146.31K. The stock is currently trading 25.08% above its 20-day simple moving average (SMA20), while that difference is up 3.63% for SMA50 and it goes to -51.84% lower than SMA200.

Franklin Advisers, Inc. acquired 5.57 million shares of EyePoint Pharmaceuticals Inc. having value of about $17.82 million. Data submitted at the U.S SEC by Franklin Advisers, Inc. revealed that the firm now holds 0.16 million shares in the company valued at close to $590618.8, or have control over 2.87% stake in the company. EyePoint Pharmaceuticals Inc. (NASDAQ: EYPT) currently have 37.34M outstanding shares and institutions hold larger chunk of about 89.10% of that. Holding of mutual funds in the company is about 42.35% while other institutional holders and individual stake holders have control over 9.53% and 29.52% of the stake respectively.

The stock has a current market capitalization of $130.30M and its 3Y-monthly beta is at 0.92. It has posted earnings per share of -$2.17 in the same period. It has Quick Ratio of 5.50 while making debt-to-equity ratio of 0.29. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for EYPT, volatility over the week remained 8.80% while standing at 9.81% over the month.

Analysts are in expectations that EyePoint Pharmaceuticals Inc. (EYPT) stock would likely to be making an EPS of -$0.7 in the current quarter, while forecast for next quarter EPS is -$0.74 and it is -$2.74 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.79 which is -$0.63 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.58 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 42.60% while it is estimated to decrease by -20.60% in next year.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Chardan Capital Markets on July 07, 2022 offering a Buy rating for the stock and assigned a target price of $21 to it. Coverage by Cowen stated EyePoint Pharmaceuticals Inc. (EYPT) stock as an Outperform in their note to investors on March 01, 2021, suggesting a price target of $25 for the stock. On January 28, 2021, Cantor Fitzgerald Initiated their recommendations, while on April 06, 2020, B. Riley FBR Downgrade their ratings for the stock with a price target of $1. Stock get a Buy rating from Laidlaw on November 04, 2019.