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

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has received an average rating of “Buy” from the seven research firms that are currently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $26.8571.

Several analysts have recently commented on the company. Royal Bank Of Canada assumed coverage on Eyepoint Pharmaceuticals in a report on Tuesday, June 17th. They set an “outperform” rating and a $28.00 target price on the stock. Chardan Capital restated a “buy” rating and set a $27.00 target price on shares of Eyepoint Pharmaceuticals in a report on Thursday, August 7th. Finally, HC Wainwright increased their target price on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th.

Eyepoint Pharmaceuticals Price Performance

Shares of NASDAQ:EYPT opened at $13.76 on Friday. The business’s fifty day moving average price is $11.37 and its two-hundred day moving average price is $8.52. Eyepoint Pharmaceuticals has a fifty-two week low of $3.91 and a fifty-two week high of $14.42. The stock has a market capitalization of $948.48 million, a price-to-earnings ratio of -5.13 and a beta of 1.93.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.18). The company had revenue of $5.33 million during the quarter, compared to the consensus estimate of $6.82 million. Eyepoint Pharmaceuticals had a negative net margin of 337.93% and a negative return on equity of 63.80%. Research analysts expect that Eyepoint Pharmaceuticals will post -2.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. boosted its holdings in Eyepoint Pharmaceuticals by 9.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock valued at $63,988,000 after acquiring an additional 600,000 shares during the last quarter. Federated Hermes Inc. boosted its holdings in Eyepoint Pharmaceuticals by 12.6% in the second quarter. Federated Hermes Inc. now owns 4,599,450 shares of the company’s stock valued at $43,281,000 after acquiring an additional 513,870 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Eyepoint Pharmaceuticals by 3.6% in the second quarter. Franklin Resources Inc. now owns 4,301,123 shares of the company’s stock valued at $40,474,000 after acquiring an additional 151,262 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Eyepoint Pharmaceuticals by 0.8% in the first quarter. Vanguard Group Inc. now owns 3,834,368 shares of the company’s stock valued at $20,782,000 after acquiring an additional 31,141 shares during the last quarter. Finally, Aberdeen Group plc boosted its holdings in Eyepoint Pharmaceuticals by 346.9% in the second quarter. Aberdeen Group plc now owns 1,031,201 shares of the company’s stock valued at $9,704,000 after acquiring an additional 800,456 shares during the last quarter. Institutional investors own 99.41% of the company’s stock.

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.