Brokerages Set EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Price Target at $29.00

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have earned a consensus rating of “Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $29.00.

EYPT has been the subject of a number of research reports. Scotiabank initiated coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price target for the company. JPMorgan Chase & Co. lowered their target price on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of EyePoint Pharmaceuticals in a research note on Friday, October 25th. Chardan Capital reissued a “buy” rating and issued a $28.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Tuesday, October 29th. Finally, StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st.

Institutional Trading of EyePoint Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of EyePoint Pharmaceuticals by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock worth $49,530,000 after purchasing an additional 362,168 shares during the period. RA Capital Management L.P. purchased a new position in EyePoint Pharmaceuticals during the first quarter worth about $19,401,000. Deerfield Management Company L.P. Series C boosted its stake in EyePoint Pharmaceuticals by 51.4% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock worth $7,637,000 after buying an additional 298,196 shares during the last quarter. Fiera Capital Corp grew its holdings in EyePoint Pharmaceuticals by 0.9% in the 2nd quarter. Fiera Capital Corp now owns 677,038 shares of the company’s stock valued at $5,890,000 after buying an additional 5,920 shares during the period. Finally, Perceptive Advisors LLC increased its stake in shares of EyePoint Pharmaceuticals by 8.6% during the 2nd quarter. Perceptive Advisors LLC now owns 640,274 shares of the company’s stock valued at $5,570,000 after acquiring an additional 50,628 shares during the last quarter. Institutional investors and hedge funds own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Price Performance

Shares of EYPT stock opened at $12.06 on Tuesday. The business’s fifty day moving average price is $9.22 and its 200 day moving average price is $10.32. The firm has a market capitalization of $645.45 million, a PE ratio of -6.74 and a beta of 1.50. EyePoint Pharmaceuticals has a 1-year low of $5.86 and a 1-year high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share (EPS) 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%. 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.