Analysts Set EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Target Price at $26.63

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) have earned an average recommendation of "Buy" from the nine analysts that are covering the stock, Marketbeat reports. Nine research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $26.63.

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

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Suvretta Capital Management LLC lifted its stake in EyePoint Pharmaceuticals by 31.1% during the 4th quarter. Suvretta Capital Management LLC now owns 6,783,091 shares of the company's stock valued at $50,534,000 after acquiring an additional 1,607,268 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in EyePoint Pharmaceuticals by 51.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,750,000 shares of the company's stock valued at $42,838,000 after purchasing an additional 1,958,580 shares during the period. Franklin Resources Inc. grew its position in EyePoint Pharmaceuticals by 3.1% in the 4th quarter. Franklin Resources Inc. now owns 4,137,567 shares of the company's stock worth $30,825,000 after purchasing an additional 125,519 shares during the period. Vanguard Group Inc. raised its stake in EyePoint Pharmaceuticals by 24.8% during the 4th quarter. Vanguard Group Inc. now owns 3,803,227 shares of the company's stock valued at $28,334,000 after buying an additional 755,045 shares during the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of EyePoint Pharmaceuticals by 92.7% during the 4th quarter. Federated Hermes Inc. now owns 3,707,445 shares of the company's stock valued at $27,620,000 after buying an additional 1,783,765 shares during the period. 99.41% of the stock is owned by hedge funds and other institutional investors.

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EyePoint Pharmaceuticals Stock Performance

NASDAQ:EYPT traded up $0.24 on Monday, hitting $6.82. The stock had a trading volume of 703,904 shares, compared to its average volume of 851,895. EyePoint Pharmaceuticals has a 1 year low of $5.54 and a 1 year high of $26.76. The firm's fifty day simple moving average is $7.27 and its two-hundred day simple moving average is $8.47. The stock has a market cap of $465.47 million, a P/E ratio of -3.41 and a beta of 1.51.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its earnings results on Wednesday, March 5th. The company reported ($0.64) EPS for the quarter, missing analysts' consensus estimates of ($0.54) by ($0.10). The business had revenue of $11.60 million for the quarter, compared to the consensus estimate of $11.02 million. EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. Equities research analysts predict that EyePoint Pharmaceuticals will post -2.13 EPS for the current year.

EyePoint Pharmaceuticals Company Profile

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.