EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives Average Recommendation of “Buy” from Brokerages

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have been assigned an average rating of “Buy” from the nine research firms that are presently covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokers that have covered the stock in the last year is $26.63.

Several equities analysts have recently issued reports on EYPT shares. HC Wainwright reissued a “buy” rating and set a $22.00 target price on shares of EyePoint Pharmaceuticals in a research note on Thursday, March 6th. Citigroup started coverage on EyePoint Pharmaceuticals in a research report on Tuesday, January 7th. They set a “buy” rating and a $33.00 price target on the stock. Chardan Capital restated a “buy” rating and set a $33.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday, March 6th. Finally, StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a research report on Friday, March 14th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Summit Investment Advisors Inc. lifted its holdings in shares of EyePoint Pharmaceuticals by 39.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,838 shares of the company’s stock valued at $51,000 after purchasing an additional 1,940 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of EyePoint Pharmaceuticals by 3,174.4% during the first quarter. GAMMA Investing LLC now owns 10,249 shares of the company’s stock valued at $56,000 after purchasing an additional 9,936 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of EyePoint Pharmaceuticals during the fourth quarter valued at $59,000. Virtus ETF Advisers LLC bought a new position in shares of EyePoint Pharmaceuticals during the fourth quarter valued at $67,000. Finally, AlphaQuest LLC lifted 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 valued at $73,000 after purchasing an additional 9,670 shares in the last quarter. 99.41% of the stock is owned by institutional investors.

EyePoint Pharmaceuticals Price Performance

Shares of EyePoint Pharmaceuticals stock opened at $6.78 on Tuesday. The business’s 50 day simple moving average is $5.93 and its two-hundred day simple moving average is $7.73. The stock has a market capitalization of $465.98 million, a P/E ratio of -3.39 and a beta of 1.39. EyePoint Pharmaceuticals has a one year low of $3.91 and a one year high of $21.26.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.10). The company had revenue of $11.60 million during the quarter, compared to analysts’ expectations of $11.02 million. EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. Sell-side analysts expect that EyePoint Pharmaceuticals will post -2.13 earnings per share 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.