EyePoint Pharmaceuticals' (EYPT) "Buy" Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT - Free Report) in a report issued on Thursday morning,Benzinga reports. HC Wainwright currently has a $22.00 target price on the stock.

Several other equities analysts have also weighed in on the stock. Chardan Capital dropped their price objective on shares of EyePoint Pharmaceuticals from $33.00 to $27.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Mizuho dropped their price objective on shares of EyePoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Finally, Wall Street Zen raised shares of EyePoint Pharmaceuticals to a "sell" rating in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $25.38.

EyePoint Pharmaceuticals Price Performance

EYPT stock remained flat at $7.21 during trading hours on Thursday. 2,148,559 shares of the company's stock were exchanged, compared to its average volume of 827,073. The company has a market capitalization of $496.13 million, a PE ratio of -3.61 and a beta of 1.58. The company's fifty day moving average is $5.86 and its 200-day moving average is $6.95. EyePoint Pharmaceuticals has a 12-month low of $3.91 and a 12-month high of $13.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.65) EPS for the quarter, meeting analysts' consensus estimates of ($0.65). The firm had revenue of $24.50 million during the quarter, compared to analysts' expectations of $8.84 million. EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. As a group, sell-side analysts predict that EyePoint Pharmaceuticals will post -2.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd increased its position in EyePoint Pharmaceuticals by 127.8% during the first quarter. Dynamic Technology Lab Private Ltd now owns 73,310 shares of the company's stock worth $397,000 after acquiring an additional 41,132 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in EyePoint Pharmaceuticals by 7.8% during the first quarter. Adage Capital Partners GP L.L.C. now owns 6,200,000 shares of the company's stock worth $33,604,000 after buying an additional 450,000 shares in the last quarter. MYDA Advisors LLC grew its stake in EyePoint Pharmaceuticals by 12.5% during the first quarter. MYDA Advisors LLC now owns 180,000 shares of the company's stock worth $976,000 after buying an additional 20,000 shares in the last quarter. Walleye Capital LLC acquired a new stake in EyePoint Pharmaceuticals during the first quarter worth about $180,000. Finally, EntryPoint Capital LLC acquired a new stake in EyePoint Pharmaceuticals during the first quarter worth about $186,000. 99.41% of the stock is owned by 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.