Eyepoint Pharmaceuticals (NASDAQ:EYPT) Given New $39.00 Price Target at Royal Bank Of Canada

Eyepoint Pharmaceuticals (NASDAQ:EYPT) had its target price raised by investment analysts at Royal Bank Of Canada from $28.00 to $39.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 239.13% from the company’s previous close.

Other analysts have also issued research reports about the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Wednesday, October 8th. HC Wainwright increased their price target on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Mizuho set a $28.00 price target on Eyepoint Pharmaceuticals in a research report on Monday, October 20th. Finally, Chardan Capital reissued a “buy” rating and set a $27.00 price target on shares of Eyepoint Pharmaceuticals in a research report on Thursday, August 7th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Eyepoint Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $30.50.

Eyepoint Pharmaceuticals Trading Up 4.4%

Eyepoint Pharmaceuticals stock traded up $0.48 on Thursday, hitting $11.50. 321,224 shares of the stock traded hands, compared to its average volume of 905,568. The firm has a market cap of $792.66 million, a P/E ratio of -4.30 and a beta of 1.85. The business’s fifty day simple moving average is $12.84 and its 200 day simple moving average is $10.22. Eyepoint Pharmaceuticals has a 1 year low of $3.91 and a 1 year high of $14.91.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.18). Eyepoint Pharmaceuticals had a negative net margin of 337.93% and a negative return on equity of 63.80%. The company had revenue of $5.33 million for the quarter, compared to the consensus estimate of $6.82 million. As a group, analysts predict that Eyepoint Pharmaceuticals will post -2.13 earnings per share for the current year.

Institutional Trading of Eyepoint Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in EYPT. Adage Capital Partners GP L.L.C. raised its holdings in Eyepoint Pharmaceuticals by 9.7% during the second 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. increased its holdings in Eyepoint Pharmaceuticals by 12.6% in the second quarter. Federated Hermes Inc. now owns 4,599,450 shares of the company’s stock valued at $43,281,000 after buying an additional 513,870 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Eyepoint Pharmaceuticals by 3.6% during the second quarter. Franklin Resources Inc. now owns 4,301,123 shares of the company’s stock valued at $40,474,000 after purchasing an additional 151,262 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Eyepoint Pharmaceuticals by 0.8% during the first quarter. Vanguard Group Inc. now owns 3,834,368 shares of the company’s stock valued at $20,782,000 after purchasing an additional 31,141 shares during the last quarter. Finally, Aberdeen Group plc grew its holdings in shares of Eyepoint Pharmaceuticals by 346.9% during the second quarter. Aberdeen Group plc now owns 1,031,201 shares of the company’s stock valued at $9,704,000 after purchasing an additional 800,456 shares during the last quarter. 99.41% of the stock is owned by institutional investors and hedge funds.

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.