EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives $26.63 Consensus Target Price from Brokerages

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have received an average rating of “Buy” from the nine ratings firms that are presently covering the company, MarketBeat reports. Nine investment analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $26.63.

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

EyePoint Pharmaceuticals Trading Down 7.1 %

EYPT opened at $4.99 on Friday. EyePoint Pharmaceuticals has a twelve month low of $4.83 and a twelve month high of $23.65. The firm has a market cap of $342.96 million, a price-to-earnings ratio of -2.50 and a beta of 1.41. The company has a fifty day simple moving average of $6.55 and a 200 day simple moving average of $8.13.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results on Wednesday, March 5th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $11.02 million. On average, analysts forecast that EyePoint Pharmaceuticals will post -2.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Summit Investment Advisors Inc. lifted its holdings in 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 acquiring an additional 1,940 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter worth approximately $59,000. Virtus ETF Advisers LLC bought a new stake in shares of EyePoint Pharmaceuticals in the 4th quarter worth approximately $67,000. AlphaQuest LLC boosted its position in EyePoint Pharmaceuticals by 13,246.6% during the 4th quarter. AlphaQuest LLC now owns 9,743 shares of the company’s stock valued at $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 worth $76,000. 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.