Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Given Average Recommendation of “Buy” by Brokerages

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have been given a consensus rating of “Buy” by the nine analysts that are covering the stock, MarketBeat reports. Nine equities research analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have covered the stock in the last year is $25.67.

A number of research firms have recently commented on EYPT. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective on shares of Eyepoint Pharmaceuticals in a research note on Thursday, May 29th. Wall Street Zen raised shares of Eyepoint Pharmaceuticals to a “sell” rating in a research report on Friday, March 14th. Mizuho dropped their target price on shares of Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, May 16th. Chardan Capital dropped their target price on shares of Eyepoint Pharmaceuticals from $33.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Finally, Royal Bank Of Canada began coverage on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, June 17th. They set an “outperform” rating and a $28.00 target price for the company.

Eyepoint Pharmaceuticals Stock Up 1.8%

NASDAQ:EYPT opened at $9.83 on Friday. Eyepoint Pharmaceuticals has a fifty-two week low of $3.91 and a fifty-two week high of $13.99. The stock has a market cap of $676.68 million, a PE ratio of -4.08 and a beta of 1.67. The firm’s fifty day simple moving average is $7.67 and its 200-day simple moving average is $7.03.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results on Wednesday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.65). The company 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 261.91% and a negative return on equity of 54.27%. Equities analysts anticipate that Eyepoint Pharmaceuticals will post -2.13 earnings per share for the current year.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in EYPT. Rhumbline Advisers lifted its stake in Eyepoint Pharmaceuticals by 16.1% in the fourth quarter. Rhumbline Advisers now owns 89,560 shares of the company’s stock valued at $667,000 after buying an additional 12,443 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Eyepoint Pharmaceuticals by 22.2% in the fourth quarter. Bank of New York Mellon Corp now owns 204,260 shares of the company’s stock valued at $1,522,000 after buying an additional 37,054 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Eyepoint Pharmaceuticals by 33.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 191,165 shares of the company’s stock valued at $1,424,000 after buying an additional 48,402 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Eyepoint Pharmaceuticals in the fourth quarter valued at $76,000. Finally, AlphaQuest LLC lifted its stake 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 last quarter. 99.41% of the stock is currently owned by institutional investors.

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.