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

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

Several equities research analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday. Chardan Capital reiterated a “buy” rating and set a $33.00 price target on shares of EyePoint Pharmaceuticals in a research note on Thursday. Robert W. Baird dropped their price objective on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Finally, Citigroup assumed coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They issued a “buy” rating and a $33.00 target price for the company.

EyePoint Pharmaceuticals Stock Up 4.5 %

NASDAQ:EYPT opened at $7.13 on Monday. EyePoint Pharmaceuticals has a 52 week low of $5.54 and a 52 week high of $26.06. The stock’s fifty day moving average is $7.25 and its two-hundred day moving average is $8.45. The stock has a market capitalization of $486.63 million, a price-to-earnings ratio of -3.57 and a beta of 1.41.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, March 5th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.10). EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. The business had revenue of $11.60 million for the quarter, compared to analyst estimates of $11.02 million. On average, sell-side analysts expect that EyePoint Pharmaceuticals will post -2.13 EPS for the current fiscal year.

Institutional Trading of EyePoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Greenwich Wealth Management LLC grew its stake in EyePoint Pharmaceuticals by 8.3% in the third quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock worth $93,000 after purchasing an additional 900 shares in the last quarter. Legal & General Group Plc lifted its holdings in EyePoint Pharmaceuticals by 4.4% during the 4th quarter. Legal & General Group Plc now owns 46,263 shares of the company’s stock worth $345,000 after buying an additional 1,932 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of EyePoint Pharmaceuticals by 39.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,838 shares of the company’s stock worth $51,000 after acquiring an additional 1,940 shares in the last quarter. Invesco Ltd. increased its holdings in shares of EyePoint Pharmaceuticals by 16.1% in the 4th quarter. Invesco Ltd. now owns 15,657 shares of the company’s stock valued at $117,000 after acquiring an additional 2,177 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of EyePoint Pharmaceuticals by 22.4% during the 4th quarter. Teacher Retirement System of Texas now owns 15,192 shares of the company’s stock valued at $113,000 after acquiring an additional 2,782 shares in the last quarter. 99.41% of the stock is owned by hedge funds and other institutional investors.

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.