Chardan Capital Issues Pessimistic Forecast for EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) had its price objective cut by equities researchers at Chardan Capital from $33.00 to $27.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Chardan Capital's price objective suggests a potential upside of 356.08% from the company's previous close.

Other equities research analysts also recently issued reports about the stock. StockNews.com raised shares of EyePoint Pharmaceuticals to a "sell" rating in a research note on Friday, March 14th. HC Wainwright restated a "buy" rating and issued a $22.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $25.29.

EyePoint Pharmaceuticals Price Performance

EYPT stock traded up $0.07 during midday trading on Thursday, hitting $5.92. 276,966 shares of the stock traded hands, compared to its average volume of 821,098. The firm has a market cap of $407.36 million, a P/E ratio of -2.96 and a beta of 1.58. The stock's fifty day simple moving average is $6.01 and its 200-day simple moving average is $7.46. EyePoint Pharmaceuticals has a 1-year low of $3.91 and a 1-year high of $13.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.65) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.65). The firm had revenue of $24.50 million for the quarter, compared to analyst estimates of $8.84 million. EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. On average, research analysts predict that EyePoint Pharmaceuticals will post -2.13 earnings per share for the current year.

Institutional Trading of EyePoint Pharmaceuticals

A number of large investors have recently bought and sold shares of EYPT. Barclays PLC boosted its holdings in EyePoint Pharmaceuticals by 410.4% in the third quarter. Barclays PLC now owns 245,045 shares of the company's stock valued at $1,959,000 after acquiring an additional 197,033 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in EyePoint Pharmaceuticals by 1,171.3% in the third quarter. JPMorgan Chase & Co. now owns 371,758 shares of the company's stock valued at $2,970,000 after acquiring an additional 342,516 shares during the last quarter. Franklin Resources Inc. boosted its holdings in EyePoint Pharmaceuticals by 9.9% in the third quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company's stock valued at $32,056,000 after acquiring an additional 362,399 shares during the last quarter. abrdn plc bought a new position in EyePoint Pharmaceuticals during the fourth quarter worth about $1,719,000. Finally, Rhumbline Advisers boosted its holdings in EyePoint Pharmaceuticals by 16.1% during the fourth quarter. Rhumbline Advisers now owns 89,560 shares of the company's stock worth $667,000 after buying an additional 12,443 shares during the last quarter. 99.41% of the stock is currently owned by institutional investors.

EyePoint Pharmaceuticals Company Profile

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.