Eyepoint Pharmaceuticals (NASDAQ:EYPT) Given “Buy” Rating at Chardan Capital

Eyepoint Pharmaceuticals (NASDAQ:EYPT)‘s stock had its “buy” rating restated by investment analysts at Chardan Capital in a note issued to investors on Monday,Benzinga reports. They currently have a $65.00 price objective on the stock. Chardan Capital’s price objective indicates a potential upside of 340.68% from the stock’s previous close.

A number of other analysts have also issued reports on EYPT. Weiss Ratings reissued a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Friday, July 17th. Royal Bank Of Canada cut their price target on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. HC Wainwright decreased their price objective on shares of Eyepoint Pharmaceuticals from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, August 6th. Cantor Fitzgerald upped their price target on shares of Eyepoint Pharmaceuticals from $47.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Finally, Guggenheim reiterated a “buy” rating and set a $68.00 price objective on shares of Eyepoint Pharmaceuticals in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $44.38.

Eyepoint Pharmaceuticals Stock Performance

EYPT stock opened at $14.75 on Monday. Eyepoint Pharmaceuticals has a twelve month low of $9.65 and a twelve month high of $19.11. The stock has a market cap of $1.27 billion, a P/E ratio of -3.94 and a beta of 1.76. The company’s 50 day moving average is $13.23 and its two-hundred day moving average is $13.70.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.08). Eyepoint Pharmaceuticals had a negative net margin of 10,994.73% and a negative return on equity of 135.81%. The firm had revenue of $0.51 million during the quarter, compared to analysts’ expectations of $0.45 million. On average, equities research analysts predict that Eyepoint Pharmaceuticals will post -3.6 earnings per share for the current year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Suvretta Capital Management LLC raised its holdings in shares of Eyepoint Pharmaceuticals by 26.4% during the 4th quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock worth $143,012,000 after acquiring an additional 1,634,970 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of Eyepoint Pharmaceuticals by 9.7% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock worth $63,988,000 after purchasing an additional 600,000 shares during the last quarter. Federated Hermes Inc. grew its holdings in Eyepoint Pharmaceuticals by 36.3% in the 4th quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock valued at $109,938,000 after buying an additional 1,601,101 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Eyepoint Pharmaceuticals by 19.3% during the 4th quarter. Franklin Resources Inc. now owns 4,976,915 shares of the company’s stock valued at $90,928,000 after acquiring an additional 805,031 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Eyepoint Pharmaceuticals by 27.1% in the 4th quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock valued at $88,100,000 after purchasing an additional 1,027,623 shares in the last quarter. Hedge funds and other institutional investors own 99.41% of the company’s stock.

Eyepoint Pharmaceuticals Company Profile

Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company’s proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint’s commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.

Eyepoint’s lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.