EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives Consensus Rating of "Buy" from Analysts

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) has been given a consensus recommendation of "Buy" by the nine brokerages that are covering the firm, Marketbeat reports. Nine equities research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $29.00.

Several brokerages have recently weighed in on EYPT. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 target price on shares of EyePoint Pharmaceuticals in a research report on Friday. Scotiabank began coverage on EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They issued a "sector outperform" rating and a $18.00 target price for the company. JPMorgan Chase & Co. decreased their target price on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an "overweight" rating for the company in a research report on Tuesday, August 13th. Chardan Capital reaffirmed a "buy" rating and issued a $28.00 target price on shares of EyePoint Pharmaceuticals in a research report on Tuesday. Finally, Jefferies Financial Group began coverage on EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They issued a "buy" rating and a $15.00 target price for the company.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Essex Investment Management Co. LLC boosted its holdings in shares of EyePoint Pharmaceuticals by 234.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 142,144 shares of the company's stock worth $1,136,000 after acquiring an additional 99,606 shares in the last quarter. Deerfield Management Company L.P. Series C increased its holdings in EyePoint Pharmaceuticals by 51.4% during 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 purchasing an additional 298,196 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in EyePoint Pharmaceuticals by 842.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company's stock worth $4,143,000 after purchasing an additional 425,717 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of EyePoint Pharmaceuticals by 26.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,040 shares of the company's stock worth $373,000 after buying an additional 3,780 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of EyePoint Pharmaceuticals by 112.5% during the 2nd quarter. Renaissance Technologies LLC now owns 152,800 shares of the company's stock worth $1,329,000 after buying an additional 80,900 shares during the last quarter. 99.41% of the stock is owned by institutional investors and hedge funds.

EyePoint Pharmaceuticals Price Performance

EYPT stock traded down $0.58 during trading on Tuesday, reaching $11.54. 1,687,501 shares of the stock traded hands, compared to its average volume of 928,528. The business's 50 day moving average price is $9.06 and its 200-day moving average price is $10.37. EyePoint Pharmaceuticals has a 52-week low of $5.67 and a 52-week high of $30.99. The firm has a market capitalization of $617.62 million, a PE ratio of -6.45 and a beta of 1.57.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.03). EyePoint Pharmaceuticals had a negative net margin of 172.29% and a negative return on equity of 43.24%. The firm had revenue of $9.48 million for the quarter, compared to analysts' expectations of $11.61 million. On average, equities research analysts predict that EyePoint Pharmaceuticals will post -2.33 earnings per share 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.