Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives Average Recommendation of "Hold" from Analysts

Key Points

• Analysts hold a consensus “Hold” rating on EyePoint Pharmaceuticals, with six hold, four buy, and one sell recommendation; the average 12-month price target is $25.70.
• Shares opened at $3.31, near their 52-week low of $3.27 and well below the 52-week high of $19.11. The company reported a quarterly loss of $1.09 per share, missing estimates by $0.08.
• Institutional investors own 99.41% of the stock, while several hedge funds recently initiated or increased positions in the company.

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) have received a consensus rating of "Hold" from the eleven research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $25.70.

EYPT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reissued a "neutral" rating on shares of Eyepoint Pharmaceuticals in a research report on Monday, August 17th. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $5.00 price objective on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, August 18th. Guggenheim reiterated a "buy" rating and set a $68.00 target price on shares of Eyepoint Pharmaceuticals in a research note on Wednesday, June 24th. Stifel Nicolaus assumed coverage on Eyepoint Pharmaceuticals in a report on Thursday, July 16th. They issued a "buy" rating and a $40.00 target price on the stock. Finally, Cantor Fitzgerald cut Eyepoint Pharmaceuticals from an "overweight" rating to a "neutral" rating in a research note on Monday, August 17th.

Eyepoint Pharmaceuticals Price Performance

Shares of NASDAQ EYPT opened at $3.31 on Tuesday. The company has a market cap of $285.36 million, a price-to-earnings ratio of -0.89 and a beta of 1.63. The stock's 50-day moving average is $7.61 and its two-hundred day moving average is $11.38. Eyepoint Pharmaceuticals has a 1-year low of $3.27 and a 1-year high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $0.45 million. Equities research analysts anticipate that Eyepoint Pharmaceuticals will post -3.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EYPT. KBC Group NV purchased a new stake in Eyepoint Pharmaceuticals during the first quarter worth approximately $29,000. Integrated Wealth Concepts LLC purchased a new position in Eyepoint Pharmaceuticals in the second quarter valued at approximately $72,000. Pictet Asset Management Holding SA purchased a new position in Eyepoint Pharmaceuticals in the first quarter valued at approximately $141,000. Engineers Gate Manager LP acquired a new stake in Eyepoint Pharmaceuticals during the second quarter worth approximately $161,000. Finally, MCF Advisors LLC raised its holdings in Eyepoint Pharmaceuticals by 8.3% during the fourth quarter. MCF Advisors LLC now owns 14,921 shares of the company's stock worth $273,000 after purchasing an additional 1,149 shares in the last quarter. Hedge funds and other institutional investors own 99.41% of the company's stock.

About Eyepoint Pharmaceuticals

EyePoint Pharmaceuticals, Inc is a commercial-stage biotechnology company focused on developing and delivering treatments for serious eye diseases. The company's proprietary technology is designed to provide sustained, localized release of pharmaceutical compounds within the eye, with the goal of reducing treatment frequency and improving outcomes for patients and physicians.

EyePoint's commercial products include YUTIQ, an injectable fluocinolone acetonide implant for the treatment of chronic noninfectious uveitis affecting the posterior segment of the eye, and DEXYCU, a sustained-release dexamethasone intraocular suspension used to treat inflammation following ophthalmic surgery.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.