Franklin Resources Inc. Buys 125,519 Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)

Franklin Resources Inc. increased its position in EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,137,567 shares of the company’s stock after acquiring an additional 125,519 shares during the quarter. Franklin Resources Inc. owned approximately 0.06% of EyePoint Pharmaceuticals worth $30,825,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of EYPT. Intech Investment Management LLC purchased a new position in EyePoint Pharmaceuticals in the third quarter worth about $136,000. Charles Schwab Investment Management Inc. raised its holdings in EyePoint Pharmaceuticals by 5.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 142,763 shares of the company’s stock worth $1,141,000 after acquiring an additional 7,967 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of EyePoint Pharmaceuticals by 59.4% in the third quarter. Wellington Management Group LLP now owns 171,764 shares of the company’s stock worth $1,372,000 after purchasing an additional 64,008 shares during the last quarter. Barclays PLC raised its stake in shares of EyePoint Pharmaceuticals by 410.4% in the third quarter. Barclays PLC now owns 245,045 shares of the company’s stock worth $1,959,000 after purchasing an additional 197,033 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of EyePoint Pharmaceuticals by 16.1% during the third quarter. Geode Capital Management LLC now owns 1,199,056 shares of the company’s stock valued at $9,583,000 after buying an additional 166,699 shares during the last quarter. 99.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EYPT. Citigroup began coverage on EyePoint Pharmaceuticals in a research report on Tuesday, January 7th. They issued a “buy” rating and a $33.00 target price for the company. StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a research report on Friday, March 14th. HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of EyePoint Pharmaceuticals in a research report on Thursday, March 6th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $33.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.63.

EyePoint Pharmaceuticals Trading Down 7.6 %

EyePoint Pharmaceuticals stock opened at $4.61 on Friday. EyePoint Pharmaceuticals, Inc. has a 12-month low of $4.51 and a 12-month high of $23.65. The firm has a market capitalization of $316.84 million, a price-to-earnings ratio of -2.31 and a beta of 1.41. The firm has a 50 day moving average of $6.47 and a 200 day moving average of $8.10.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Wednesday, March 5th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.10). EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. The firm had revenue of $11.60 million during the quarter, compared to analysts’ expectations of $11.02 million. On average, analysts predict that EyePoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

About EyePoint Pharmaceuticals

EyePoint Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing therapeutics to improve the lives of patients with serious retinal diseases. The company's pipeline leverages its proprietary bioerodible Durasert E technology for sustained intraocular drug delivery.