EyePoint Pharmaceuticals (NASDAQ:EYPT) Given "Buy" Rating at Chardan Capital

Chardan Capital reissued their buy rating on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT - Free Report) in a report issued on Thursday morning,Benzinga reports. They currently have a $33.00 target price on the stock.

A number of other brokerages have also commented on EYPT. HC Wainwright reissued a "buy" rating and issued a $22.00 price target on shares of EyePoint Pharmaceuticals in a report on Thursday. Robert W. Baird reduced their target price on 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 initiated coverage on EyePoint Pharmaceuticals in a research note on Tuesday, January 7th. They set a "buy" rating and a $33.00 price target for the company. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, EyePoint Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $26.63.

EyePoint Pharmaceuticals Stock Down 1.8 %

NASDAQ:EYPT traded down $0.13 during trading hours on Thursday, hitting $7.00. 296,479 shares of the company's stock traded hands, compared to its average volume of 836,952. EyePoint Pharmaceuticals has a 52 week low of $5.54 and a 52 week high of $24.37. The business's fifty day simple moving average is $7.25 and its two-hundred day simple moving average is $8.45. The firm has a market cap of $477.83 million, a P/E ratio of -3.51 and a beta of 1.41.

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EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $11.60 million for the quarter, compared to the consensus estimate of $11.02 million. On average, analysts expect that EyePoint Pharmaceuticals will post -2.13 EPS for the current year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of large investors have recently bought and sold shares of EYPT. Summit Investment Advisors Inc. grew its holdings in shares of EyePoint Pharmaceuticals by 39.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,838 shares of the company's stock worth $51,000 after purchasing an additional 1,940 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of EyePoint Pharmaceuticals in the fourth quarter valued at about $59,000. Virtus ETF Advisers LLC bought a new position in shares of EyePoint Pharmaceuticals during the fourth quarter valued at about $67,000. AlphaQuest LLC boosted its holdings in shares of EyePoint Pharmaceuticals by 13,246.6% during the fourth quarter. AlphaQuest LLC now owns 9,743 shares of the company's stock worth $73,000 after purchasing an additional 9,670 shares during the period. Finally, Raymond James Financial Inc. bought a new position in EyePoint Pharmaceuticals during the 4th quarter valued at approximately $76,000. 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.