EyePoint Pharmaceuticals (NASDAQ:EYPT) Price Target Raised to $33.00

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) had its price target lifted by investment analysts at Chardan Capital from $28.00 to $33.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Chardan Capital's target price points to a potential upside of 183.75% from the company's current price.

Several other equities research analysts have also issued reports on the stock. StockNews.com raised shares of EyePoint Pharmaceuticals to a "sell" rating in a research report on Saturday, September 21st. Scotiabank initiated coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They set a "sector outperform" rating and a $18.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an "overweight" rating on the stock in a research note 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. Finally, Jefferies Financial Group initiated coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, August 28th. They set a "buy" rating and a $15.00 price target on the stock. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, EyePoint Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus target price of $29.63.

EyePoint Pharmaceuticals Price Performance

NASDAQ:EYPT traded up $0.04 during trading hours on Friday, reaching $11.63. 536,864 shares of the company were exchanged, compared to its average volume of 940,403. The firm has a market cap of $622.41 million, a price-to-earnings ratio of -5.82 and a beta of 1.50. EyePoint Pharmaceuticals has a 52-week low of $5.86 and a 52-week high of $30.99. The stock has a 50 day simple moving average of $9.44 and a 200 day simple moving average of $10.10.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.03). EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. The company had revenue of $9.48 million for the quarter, compared to analysts' expectations of $11.61 million. On average, analysts predict that EyePoint Pharmaceuticals will post -2.29 EPS for the current fiscal year.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of EYPT. RA Capital Management L.P. acquired a new position in shares of EyePoint Pharmaceuticals in the 1st quarter valued at about $19,401,000. Point72 Asset Management L.P. acquired a new position in shares of EyePoint Pharmaceuticals in the 2nd quarter valued at about $5,488,000. Cubist Systematic Strategies LLC boosted its holdings in shares of EyePoint Pharmaceuticals by 842.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company's stock valued at $4,143,000 after buying an additional 425,717 shares during the period. Vanguard Group Inc. boosted its holdings in shares of EyePoint Pharmaceuticals by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company's stock valued at $49,530,000 after buying an additional 362,168 shares during the period. Finally, Deerfield Management Company L.P. Series C boosted its holdings in shares of 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 valued at $7,637,000 after buying an additional 298,196 shares during the period. Institutional investors own 99.41% of the company's stock.

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.

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