HC Wainwright Reaffirms Buy Rating for EyePoint Pharmaceuticals (NASDAQ:EYPT)

HC Wainwright reaffirmed their buy rating on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a report published on Friday, Benzinga reports. They currently have a $30.00 price objective on the stock.

A number of other research firms have also recently weighed in on EYPT. Scotiabank assumed coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Chardan Capital restated a “buy” rating and set a $28.00 price target on shares of EyePoint Pharmaceuticals in a research note on Friday, June 28th. StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. Finally, Jefferies Financial Group began 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 on the stock. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $29.00.

EyePoint Pharmaceuticals Stock Performance

EyePoint Pharmaceuticals stock opened at $12.12 on Friday. EyePoint Pharmaceuticals has a fifty-two week low of $5.67 and a fifty-two week high of $30.99. The stock has a market cap of $648.66 million, a PE ratio of -6.77 and a beta of 1.57. The firm’s 50-day simple moving average is $8.98 and its 200 day simple moving average is $10.44.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). The company had revenue of $9.48 million during the quarter, compared to analysts’ expectations of $11.61 million. EyePoint Pharmaceuticals had a negative net margin of 172.29% and a negative return on equity of 43.24%. As a group, analysts predict that EyePoint Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Institutional Trading of EyePoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of EYPT. Janney Montgomery Scott LLC increased its holdings in EyePoint Pharmaceuticals by 26.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,040 shares of the company’s stock worth $373,000 after acquiring an additional 3,780 shares during the period. Capstone Investment Advisors LLC bought a new stake in EyePoint Pharmaceuticals during the 1st quarter worth approximately $230,000. Essex Investment Management Co. LLC increased its holdings in EyePoint Pharmaceuticals by 1.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 149,819 shares of the company’s stock worth $3,097,000 after acquiring an additional 2,278 shares during the period. Swiss National Bank bought a new stake in EyePoint Pharmaceuticals during the 1st quarter worth approximately $1,792,000. Finally, Legacy Capital Group California Inc. bought a new stake in EyePoint Pharmaceuticals during the 1st quarter worth approximately $699,000. Institutional investors own 99.41% of the company’s stock.

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.