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

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have received an average recommendation of “Buy” from the nine brokerages that are covering the company, Marketbeat reports. Nine research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $25.38.

Several research firms have issued reports on EYPT. Mizuho decreased their price target on shares of EyePoint Pharmaceuticals from $30.00 to $26.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. HC Wainwright reiterated a “buy” rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Thursday, May 29th. Chardan Capital lowered their price objective on shares of EyePoint Pharmaceuticals from $33.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a research report on Friday, March 14th.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System grew its holdings in shares of EyePoint Pharmaceuticals by 3.8% during the 4th quarter. California State Teachers Retirement System now owns 48,614 shares of the company’s stock valued at $362,000 after acquiring an additional 1,797 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of EyePoint Pharmaceuticals by 12.7% during the 1st quarter. Arizona State Retirement System now owns 16,600 shares of the company’s stock valued at $90,000 after acquiring an additional 1,877 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of EyePoint Pharmaceuticals by 4.4% during the 4th quarter. Legal & General Group Plc now owns 46,263 shares of the company’s stock valued at $345,000 after acquiring an additional 1,932 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of EyePoint Pharmaceuticals by 39.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,838 shares of the company’s stock valued at $51,000 after purchasing an additional 1,940 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of EyePoint Pharmaceuticals by 16.1% in the 4th quarter. Invesco Ltd. now owns 15,657 shares of the company’s stock valued at $117,000 after purchasing an additional 2,177 shares during the last quarter. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

EyePoint Pharmaceuticals Price Performance

NASDAQ EYPT opened at $9.21 on Wednesday. The firm has a market capitalization of $633.75 million, a PE ratio of -4.61 and a beta of 1.61. EyePoint Pharmaceuticals has a 12 month low of $3.91 and a 12 month high of $13.99. The company’s 50 day simple moving average is $6.27 and its 200 day simple moving average is $6.92.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.65). The firm had revenue of $24.50 million for the quarter, compared to analyst estimates of $8.84 million. EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. Sell-side analysts anticipate that EyePoint Pharmaceuticals will post -2.13 earnings per share 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.