Chardan Capital Reaffirms “Buy” Rating for Eyepoint Pharmaceuticals (NASDAQ:EYPT)

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

A number of other brokerages have also issued reports on EYPT. HC Wainwright cut their price target on shares of Eyepoint Pharmaceuticals from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Stifel Nicolaus started coverage on Eyepoint Pharmaceuticals in a report on Thursday, July 16th. They issued a “buy” rating and a $40.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Friday, July 17th. Royal Bank Of Canada decreased their price objective on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Finally, Cantor Fitzgerald boosted their price target on Eyepoint Pharmaceuticals from $47.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Eyepoint Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $44.38.

Eyepoint Pharmaceuticals Stock Performance

NASDAQ EYPT opened at $14.75 on Monday. The business has a fifty day simple moving average of $13.23 and a 200 day simple moving average of $13.70. Eyepoint Pharmaceuticals has a 12 month low of $9.65 and a 12 month high of $19.11. The firm has a market capitalization of $1.27 billion, a P/E ratio of -3.94 and a beta of 1.76.

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

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in EYPT. Suvretta Capital Management LLC increased its holdings in 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. lifted its position 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 valued at $63,988,000 after acquiring an additional 600,000 shares in the last quarter. Federated Hermes Inc. grew its position in Eyepoint Pharmaceuticals by 36.3% in the fourth quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock worth $109,938,000 after acquiring an additional 1,601,101 shares in the last quarter. Franklin Resources Inc. raised its position in Eyepoint Pharmaceuticals by 19.3% in the fourth quarter. Franklin Resources Inc. now owns 4,976,915 shares of the company’s stock valued at $90,928,000 after purchasing an additional 805,031 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Eyepoint Pharmaceuticals by 27.1% during the fourth quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock worth $88,100,000 after acquiring an additional 1,027,623 shares in the last quarter. Institutional investors and hedge funds 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.