EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Given Average Rating of "Buy" by Brokerages

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) has been given a consensus recommendation of "Buy" by the nine research firms that are currently covering the stock, Marketbeat reports. Nine analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have covered the stock in the last year is $26.63.

A number of research firms recently commented on EYPT. StockNews.com upgraded EyePoint Pharmaceuticals to a "sell" rating in a research report on Friday, March 14th. Chardan Capital reaffirmed a "buy" rating and set a $33.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, March 6th. 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. Finally, HC Wainwright reaffirmed a "buy" rating and set a $22.00 price target on shares of EyePoint Pharmaceuticals in a research note on Thursday, March 6th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in shares of EyePoint Pharmaceuticals in the third quarter valued at $136,000. Charles Schwab Investment Management Inc. grew its holdings in 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. Patient Square Capital LP purchased a new stake in EyePoint Pharmaceuticals in the 3rd quarter worth about $10,882,000. Wellington Management Group LLP raised its position in EyePoint Pharmaceuticals by 59.4% in the 3rd quarter. Wellington Management Group LLP now owns 171,764 shares of the company's stock worth $1,372,000 after purchasing an additional 64,008 shares during the period. Finally, Barclays PLC lifted its stake in EyePoint Pharmaceuticals by 410.4% in the third quarter. Barclays PLC now owns 245,045 shares of the company's stock worth $1,959,000 after purchasing an additional 197,033 shares during the last quarter. 99.41% of the stock is owned by hedge funds and other institutional investors.

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EyePoint Pharmaceuticals Price Performance

Shares of NASDAQ:EYPT traded down $0.41 during trading on Friday, hitting $5.42. 638,001 shares of the company's stock were exchanged, compared to its average volume of 890,205. The business's 50-day simple moving average is $6.75 and its 200 day simple moving average is $8.20. The company has a market cap of $372.51 million, a price-to-earnings ratio of -2.71 and a beta of 1.41. EyePoint Pharmaceuticals has a 52-week low of $5.34 and a 52-week high of $23.65.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last announced its quarterly earnings data on Wednesday, March 5th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.54) by ($0.10). EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. The company had revenue of $11.60 million for the quarter, compared to analysts' expectations of $11.02 million. On average, sell-side analysts anticipate 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.