Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have been given an average recommendation of “Moderate Buy” by the seven analysts that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $30.00.

EYPT has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Wednesday, October 8th. Cantor Fitzgerald raised Eyepoint Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, November 25th. Mizuho set a $28.00 price target on Eyepoint Pharmaceuticals in a research report on Monday, October 20th. Finally, Royal Bank Of Canada boosted their price target on Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th.

Eyepoint Pharmaceuticals Price Performance

Shares of EYPT stock opened at $17.74 on Wednesday. The stock’s fifty day moving average price is $13.07 and its 200 day moving average price is $11.37. Eyepoint Pharmaceuticals has a 1-year low of $3.91 and a 1-year high of $17.82. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -5.93 and a beta of 1.67.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.08). Eyepoint Pharmaceuticals had a negative return on equity of 76.13% and a negative net margin of 485.95%.The business had revenue of $0.97 million during the quarter, compared to analyst estimates of $3.33 million. As a group, equities research analysts anticipate that Eyepoint Pharmaceuticals will post -2.13 earnings per share for the current year.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in EYPT. Adage Capital Partners GP L.L.C. boosted its stake in shares of Eyepoint Pharmaceuticals by 9.7% in 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 buying an additional 600,000 shares during the last quarter. Federated Hermes Inc. raised its position in Eyepoint Pharmaceuticals by 12.6% during the second quarter. Federated Hermes Inc. now owns 4,599,450 shares of the company’s stock valued at $43,281,000 after acquiring an additional 513,870 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Eyepoint Pharmaceuticals by 3.6% in the second quarter. Franklin Resources Inc. now owns 4,301,123 shares of the company’s stock valued at $40,474,000 after acquiring an additional 151,262 shares during the period. Vanguard Group Inc. boosted its position in Eyepoint Pharmaceuticals by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,834,368 shares of the company’s stock worth $20,782,000 after purchasing an additional 31,141 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP purchased a new stake in Eyepoint Pharmaceuticals in the 3rd quarter worth approximately $28,556,000. 99.41% of the stock is owned by hedge funds and other institutional investors.

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.