EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives Average Rating of “Buy” from Brokerages

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has earned a consensus rating of “Buy” from the nine research firms that are currently covering the stock, Marketbeat reports. Nine analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have covered the stock in the last year is $25.38.

A number of equities analysts recently commented on EYPT shares. StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a research note on Friday, March 14th. HC Wainwright reissued a “buy” rating and set a $22.00 price target on shares of EyePoint Pharmaceuticals in a research note on Thursday, March 6th. Mizuho dropped their price target on EyePoint Pharmaceuticals from $30.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Chardan Capital dropped their price target on EyePoint Pharmaceuticals from $33.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, May 8th.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd raised its position in EyePoint Pharmaceuticals by 127.8% during the first quarter. Dynamic Technology Lab Private Ltd now owns 73,310 shares of the company’s stock valued at $397,000 after purchasing an additional 41,132 shares during the period. Adage Capital Partners GP L.L.C. raised its position in EyePoint Pharmaceuticals by 7.8% during the first quarter. Adage Capital Partners GP L.L.C. now owns 6,200,000 shares of the company’s stock valued at $33,604,000 after purchasing an additional 450,000 shares during the period. MYDA Advisors LLC raised its position in EyePoint Pharmaceuticals by 12.5% during the first quarter. MYDA Advisors LLC now owns 180,000 shares of the company’s stock valued at $976,000 after purchasing an additional 20,000 shares during the period. Walleye Capital LLC purchased a new stake in EyePoint Pharmaceuticals during the first quarter valued at approximately $180,000. Finally, EntryPoint Capital LLC purchased a new stake in EyePoint Pharmaceuticals during the first quarter valued at approximately $186,000. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

EyePoint Pharmaceuticals Stock Up 7.2%

NASDAQ EYPT opened at $6.13 on Friday. The firm has a market cap of $421.81 million, a price-to-earnings ratio of -3.07 and a beta of 1.58. The business has a 50-day moving average price of $5.91 and a 200-day moving average price of $7.35. EyePoint Pharmaceuticals has a twelve month low of $3.91 and a twelve month high of $13.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.65) EPS for the quarter, meeting analysts’ consensus estimates of ($0.65). EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. The company had revenue of $24.50 million during the quarter, compared to analyst estimates of $8.84 million. Research analysts expect that EyePoint Pharmaceuticals will post -2.13 EPS for the current fiscal year.

EyePoint Pharmaceuticals Company Profile

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.