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

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has earned an average rating of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Eight research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $30.63.

A number of equities analysts recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 target price on shares of EyePoint Pharmaceuticals in a research note on Thursday, June 27th. Chardan Capital reaffirmed a “buy” rating and set a $28.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Friday, June 28th. Cantor Fitzgerald reissued an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Thursday, June 20th. JPMorgan Chase & Co. cut their target price on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group initiated coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target for the company.

Insider Activity

In other news, Director David R. Guyer sold 11,625 shares of EyePoint Pharmaceuticals stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $10.06, for a total value of $116,947.50. Following the completion of the transaction, the director now owns 1,850 shares of the company’s stock, valued at approximately $18,611. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.74% of the stock is currently owned by insiders.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. increased its stake in shares of EyePoint Pharmaceuticals by 44.0% during the first quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock worth $77,000 after purchasing an additional 1,136 shares during the period. Greenwich Wealth Management LLC bought a new position in EyePoint Pharmaceuticals during the 2nd quarter worth $94,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of EyePoint Pharmaceuticals by 271.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock worth $95,000 after buying an additional 7,953 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of EyePoint Pharmaceuticals by 9.7% during the second quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock worth $115,000 after buying an additional 1,171 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of EyePoint Pharmaceuticals by 129.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,393 shares of the company’s stock valued at $194,000 after acquiring an additional 5,308 shares during the period. 99.41% of the stock is currently owned by institutional investors and hedge funds.

EyePoint Pharmaceuticals Stock Down 1.1 %

EYPT opened at $7.97 on Monday. The stock has a market cap of $415.11 million, a P/E ratio of -4.38 and a beta of 1.59. EyePoint Pharmaceuticals has a 12 month low of $5.67 and a 12 month high of $30.99. The company has a fifty day simple moving average of $8.88 and a 200 day simple moving average of $14.01.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. The business had revenue of $9.48 million for the quarter, compared to analyst estimates of $11.61 million. On average, equities research analysts expect that EyePoint Pharmaceuticals will post -2.33 earnings per share 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.