EyePoint Pharmaceuticals (NASDAQ:EYPT) Given Buy Rating at HC Wainwright

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at HC Wainwright in a note issued to investors on Friday, Benzinga reports. They presently have a $30.00 price objective on the stock. HC Wainwright's price objective indicates a potential upside of 215.79% from the company's current price.

EYPT has been the subject of several other reports. 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. Scotiabank initiated coverage on EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They issued a "sector outperform" rating and a $18.00 price target on the stock. StockNews.com upgraded EyePoint Pharmaceuticals to a "sell" rating in a research report on Saturday, September 21st. Jefferies Financial Group began coverage on EyePoint Pharmaceuticals in a research note on Wednesday, August 28th. They issued a "buy" rating and a $15.00 price objective on the stock. Finally, Chardan Capital restated a "buy" rating and set a $28.00 price objective on shares of EyePoint Pharmaceuticals in a report on Friday, June 28th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat.com, EyePoint Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $29.00.

EyePoint Pharmaceuticals Price Performance

EYPT traded down $0.06 during midday trading on Friday, reaching $9.50. 374,930 shares of the company's stock were exchanged, compared to its average volume of 907,298. EyePoint Pharmaceuticals has a 1-year low of $5.67 and a 1-year high of $30.99. The business's 50-day moving average price is $8.87 and its 200 day moving average price is $10.75. The stock has a market capitalization of $508.44 million, a PE ratio of -5.30 and a beta of 1.57.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $9.48 million during the quarter, compared to analyst estimates of $11.61 million. EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. As a group, analysts expect that EyePoint Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of EyePoint Pharmaceuticals by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company's stock worth $49,530,000 after purchasing an additional 362,168 shares in the last quarter. RA Capital Management L.P. bought a new stake in shares of EyePoint Pharmaceuticals in the 1st quarter worth about $19,401,000. Deerfield Management Company L.P. Series C grew its position in shares of 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 valued at $7,637,000 after buying an additional 298,196 shares during the last quarter. Fiera Capital Corp boosted its stake in EyePoint Pharmaceuticals by 0.9% during the 2nd quarter. Fiera Capital Corp now owns 677,038 shares of the company's stock valued at $5,890,000 after purchasing an additional 5,920 shares during the period. Finally, Perceptive Advisors LLC lifted its stake in shares of EyePoint Pharmaceuticals by 8.6% in the 2nd quarter. Perceptive Advisors LLC now owns 640,274 shares of the company's stock worth $5,570,000 after acquiring an additional 50,628 shares during the period. Hedge funds and other institutional investors own 99.41% of the company's stock.

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.