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

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has been assigned a consensus recommendation of “Buy” from the ten brokerages that are presently covering the firm, Marketbeat reports. Ten analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $26.63.

A number of brokerages recently weighed in on EYPT. HC Wainwright reiterated a “buy” rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. Citigroup began coverage on EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They issued a “buy” rating and a $33.00 price target for the company. Scotiabank initiated coverage on EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price objective on the stock. Robert W. Baird lowered their target price on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Finally, Chardan Capital increased their price target on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, November 8th.

Institutional Trading of EyePoint Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Essex Investment Management Co. LLC raised its stake in shares of EyePoint Pharmaceuticals by 234.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 142,144 shares of the company’s stock worth $1,136,000 after acquiring an additional 99,606 shares in the last quarter. Geode Capital Management LLC increased its position in shares of EyePoint Pharmaceuticals by 16.1% during the third quarter. Geode Capital Management LLC now owns 1,199,056 shares of the company’s stock worth $9,583,000 after purchasing an additional 166,699 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of EyePoint Pharmaceuticals by 5.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 142,763 shares of the company’s stock valued at $1,141,000 after purchasing an additional 7,967 shares during the last quarter. Barclays PLC boosted its position in shares of EyePoint Pharmaceuticals by 410.4% in the 3rd quarter. Barclays PLC now owns 245,045 shares of the company’s stock worth $1,959,000 after purchasing an additional 197,033 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in EyePoint Pharmaceuticals by 1,171.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 371,758 shares of the company’s stock worth $2,970,000 after buying an additional 342,516 shares during the last quarter. 99.41% of the stock is owned by hedge funds and other institutional investors.

EyePoint Pharmaceuticals Price Performance

Shares of NASDAQ:EYPT opened at $7.80 on Thursday. The business has a 50 day simple moving average of $7.97 and a two-hundred day simple moving average of $8.84. EyePoint Pharmaceuticals has a 1 year low of $6.55 and a 1 year high of $30.99. The firm has a market capitalization of $532.36 million, a PE ratio of -3.90 and a beta of 1.51.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.06). EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. The business had revenue of $10.52 million for the quarter, compared to analysts’ expectations of $12.35 million. Equities research analysts expect 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.