Eyepoint Pharmaceuticals (NASDAQ:EYPT) Now Covered by Analysts at Royal Bank Of Canada

Royal Bank Of Canada initiated coverage on shares of Eyepoint Pharmaceuticals (NASDAQ:EYPT) in a research report sent to investors on Tuesday, MarketBeat.com reports. The firm issued an outperform rating and a $28.00 price objective on the stock.

Several other analysts have also weighed in on EYPT. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective on shares of Eyepoint Pharmaceuticals in a report on Thursday, May 29th. 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 report on Thursday, May 8th. Mizuho reduced their price objective on Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday, May 16th. Finally, Wall Street Zen upgraded Eyepoint Pharmaceuticals to a “sell” rating in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Eyepoint Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.67.

Eyepoint Pharmaceuticals Stock Down 1.0%

NASDAQ:EYPT opened at $8.81 on Tuesday. The firm has a market capitalization of $606.22 million, a PE ratio of -3.66 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 firm has a 50-day moving average price of $6.72 and a 200 day moving average price of $6.91.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Wednesday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.65). Eyepoint Pharmaceuticals had a negative return on equity of 54.27% and a negative net margin of 261.91%. The business had revenue of $24.50 million during the quarter, compared to analysts’ expectations of $8.84 million. On average, research analysts expect that Eyepoint Pharmaceuticals will post -2.13 EPS for the current year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Summit Investment Advisors Inc. increased its position in Eyepoint Pharmaceuticals by 39.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,838 shares of the company’s stock worth $51,000 after purchasing an additional 1,940 shares during the period. GAMMA Investing LLC grew its position in shares of Eyepoint Pharmaceuticals by 3,174.4% during the 1st quarter. GAMMA Investing LLC now owns 10,249 shares of the company’s stock worth $56,000 after buying an additional 9,936 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of Eyepoint Pharmaceuticals during the 4th quarter worth approximately $59,000. Virtus ETF Advisers LLC bought a new stake in shares of Eyepoint Pharmaceuticals during the fourth quarter worth approximately $67,000. Finally, AlphaQuest LLC lifted its holdings in Eyepoint Pharmaceuticals by 13,246.6% in the fourth quarter. AlphaQuest LLC now owns 9,743 shares of the company’s stock valued at $73,000 after buying an additional 9,670 shares during the period. Institutional investors and hedge funds own 99.41% of the company’s stock.

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.