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

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have been given a consensus recommendation of “Buy” by the ten research firms that are covering the company, Marketbeat Ratings reports. Ten analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $25.67.

Several research analysts have recently issued reports on the stock. Mizuho lowered their target price on shares of Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, May 16th. HC Wainwright reissued a “buy” rating and issued a $22.00 price target on shares of Eyepoint Pharmaceuticals in a research report on Thursday, May 29th. Wall Street Zen upgraded shares of Eyepoint Pharmaceuticals to a “sell” rating in a research note on Friday, March 14th. Chardan Capital dropped their price objective on Eyepoint Pharmaceuticals from $33.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, Royal Bank Of Canada initiated coverage on Eyepoint Pharmaceuticals in a research report on Tuesday. They set an “outperform” rating and a $28.00 target price on the stock.

Eyepoint Pharmaceuticals Stock Performance

Shares of NASDAQ EYPT opened at $8.81 on Wednesday. The stock’s 50-day simple moving average is $6.72 and its 200-day simple moving average is $6.91. 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 fifty-two week low of $3.91 and a fifty-two week 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 the consensus estimate of ($0.65). Eyepoint Pharmaceuticals had a negative net margin of 261.91% and a negative return on equity of 54.27%. The company had revenue of $24.50 million for the quarter, compared to analyst estimates of $8.84 million. On average, sell-side analysts forecast that Eyepoint Pharmaceuticals will post -2.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Suvretta Capital Management LLC increased its holdings in shares of Eyepoint Pharmaceuticals by 31.1% in the fourth quarter. Suvretta Capital Management LLC now owns 6,783,091 shares of the company’s stock valued at $50,534,000 after purchasing an additional 1,607,268 shares during the period. Adage Capital Partners GP L.L.C. lifted its holdings in shares of 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 worth $33,604,000 after purchasing an additional 450,000 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Eyepoint Pharmaceuticals by 3.1% during the fourth quarter. Franklin Resources Inc. now owns 4,137,567 shares of the company’s stock worth $30,825,000 after purchasing an additional 125,519 shares during the period. Federated Hermes Inc. grew its position in Eyepoint Pharmaceuticals by 10.2% in the 1st quarter. Federated Hermes Inc. now owns 4,085,580 shares of the company’s stock valued at $22,144,000 after buying an additional 378,135 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Eyepoint Pharmaceuticals by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,834,368 shares of the company’s stock valued at $20,782,000 after buying an additional 31,141 shares during the period. 99.41% of the stock is owned by hedge funds and other 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.