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

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has been assigned a consensus recommendation of “Buy” from the nine analysts that are presently covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokerages that have covered the stock in the last year is $26.63.

Several research firms have recently weighed in on EYPT. HC Wainwright reiterated a “buy” rating and issued a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, March 6th. Citigroup started coverage on shares of EyePoint Pharmaceuticals in a research note on Tuesday, January 7th. They issued a “buy” rating and a $33.00 price target for the company. StockNews.com raised shares of EyePoint Pharmaceuticals to a “sell” rating in a research report on Friday, March 14th. Finally, Chardan Capital restated a “buy” rating and issued a $33.00 target price on shares of EyePoint Pharmaceuticals in a research note on Thursday, March 6th.

Institutional Trading of EyePoint Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. Summit Investment Advisors Inc. grew its holdings in EyePoint Pharmaceuticals by 39.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,838 shares of the company’s stock worth $51,000 after buying an additional 1,940 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of EyePoint Pharmaceuticals in the 4th quarter worth $59,000. Virtus ETF Advisers LLC bought a new stake in shares of EyePoint Pharmaceuticals in the 4th quarter worth $67,000. AlphaQuest LLC raised its holdings in shares of 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 purchasing an additional 9,670 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of EyePoint Pharmaceuticals during the fourth quarter valued at about $76,000. 99.41% of the stock is owned by hedge funds and other institutional investors.

EyePoint Pharmaceuticals Trading Down 2.5 %

Shares of EYPT opened at $5.91 on Friday. The firm’s fifty day simple moving average is $6.82 and its two-hundred day simple moving average is $8.24. EyePoint Pharmaceuticals has a 12 month low of $5.54 and a 12 month high of $23.65. The stock has a market capitalization of $406.19 million, a P/E ratio of -2.96 and a beta of 1.41.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results on Wednesday, March 5th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.10). The business had revenue of $11.60 million for the quarter, compared to the consensus estimate of $11.02 million. EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. As a group, research analysts predict that EyePoint Pharmaceuticals will post -2.13 EPS for the current fiscal year.

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.