Eyepoint Pharmaceuticals (NASDAQ:EYPT) Given New $39.00 Price Target at Royal Bank Of Canada

Eyepoint Pharmaceuticals (NASDAQ:EYPT) had its price objective lifted by Royal Bank Of Canada from $28.00 to $39.00 in a research report report published on Thursday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other equities research analysts have also issued reports on the stock. Mizuho set a $28.00 price objective on shares of Eyepoint Pharmaceuticals in a research report on Monday, October 20th. HC Wainwright upped their price target on shares of Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Wednesday, October 8th. Finally, Chardan Capital restated a “buy” rating and set a $27.00 price objective on shares of Eyepoint Pharmaceuticals in a research note on Thursday, August 7th. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $30.50.

Eyepoint Pharmaceuticals Trading Up 1.2%

NASDAQ:EYPT traded up $0.13 on Thursday, hitting $11.21. 1,204,048 shares of the stock were exchanged, compared to its average volume of 911,428. The stock has a fifty day moving average of $12.83 and a 200-day moving average of $10.26. The stock has a market cap of $772.67 million, a PE ratio of -4.18 and a beta of 1.85. Eyepoint Pharmaceuticals has a fifty-two week low of $3.91 and a fifty-two week high of $14.91.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Wednesday, November 5th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.08). The firm had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $3.33 million. Eyepoint Pharmaceuticals had a negative return on equity of 63.80% and a negative net margin of 337.93%. As a group, analysts predict that Eyepoint Pharmaceuticals will post -2.13 earnings per share for the current year.

Institutional Trading of Eyepoint Pharmaceuticals

Large investors have recently modified their holdings of the business. Raymond James Financial Inc. lifted its stake in shares of Eyepoint Pharmaceuticals by 11.0% in the second quarter. Raymond James Financial Inc. now owns 11,900 shares of the company’s stock worth $112,000 after acquiring an additional 1,177 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Eyepoint Pharmaceuticals by 17.3% during the 3rd quarter. New York State Common Retirement Fund now owns 12,214 shares of the company’s stock worth $174,000 after purchasing an additional 1,800 shares during the last quarter. Arizona State Retirement System raised its position in shares of Eyepoint Pharmaceuticals by 12.7% in the 1st quarter. Arizona State Retirement System now owns 16,600 shares of the company’s stock valued at $90,000 after purchasing an additional 1,877 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Eyepoint Pharmaceuticals by 1,636.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock valued at $27,000 after purchasing an additional 2,733 shares in the last quarter. Finally, State of Alaska Department of Revenue purchased a new position in shares of Eyepoint Pharmaceuticals during the 3rd quarter valued at approximately $50,000. 99.41% of the stock is currently owned by institutional investors and hedge funds.

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.