Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives Consensus Rating of "Buy" from Brokerages

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) have received an average recommendation of "Buy" from the nine ratings firms that are covering the company, Marketbeat reports. Nine analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $25.67.

Several research analysts have issued reports on the company. HC Wainwright restated a "buy" rating and set a $22.00 target price on shares of Eyepoint Pharmaceuticals in a research report on Thursday, May 29th. Royal Bank Of Canada began coverage on Eyepoint Pharmaceuticals in a report on Tuesday, June 17th. They set an "outperform" rating and a $28.00 price objective for the company. Mizuho reduced their target price on Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Chardan Capital lowered their target price on shares of Eyepoint Pharmaceuticals from $33.00 to $27.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Finally, Wall Street Zen upgraded shares of Eyepoint Pharmaceuticals to a "sell" rating in a report on Friday, March 14th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. lifted its position in shares of Eyepoint Pharmaceuticals by 39.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,838 shares of the company's stock worth $51,000 after purchasing an additional 1,940 shares during the period. KLP Kapitalforvaltning AS bought a new position in Eyepoint Pharmaceuticals in the fourth quarter worth approximately $59,000. Virtus ETF Advisers LLC bought a new position in Eyepoint Pharmaceuticals in the fourth quarter worth approximately $67,000. AlphaQuest LLC lifted its holdings in Eyepoint Pharmaceuticals by 13,246.6% during the fourth quarter. AlphaQuest LLC now owns 9,743 shares of the company's stock worth $73,000 after buying an additional 9,670 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Eyepoint Pharmaceuticals during the 4th quarter valued at $76,000. Hedge funds and other institutional investors own 99.41% of the company's stock.

Eyepoint Pharmaceuticals Stock Performance

EYPT stock traded up $0.17 during trading on Friday, hitting $9.83. 332,554 shares of the company's stock traded hands, compared to its average volume of 816,551. Eyepoint Pharmaceuticals has a 52 week low of $3.91 and a 52 week high of $13.99. The stock has a market capitalization of $676.68 million, a price-to-earnings ratio of -4.08 and a beta of 1.67. The business has a fifty day simple moving average of $7.67 and a 200 day simple moving average of $7.03.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.65) earnings per share for the quarter, meeting the consensus estimate of ($0.65). The firm had revenue of $24.50 million for the quarter, compared to the consensus estimate of $8.84 million. Eyepoint Pharmaceuticals had a negative return on equity of 54.27% and a negative net margin of 261.91%. Research analysts forecast that Eyepoint Pharmaceuticals will post -2.13 earnings per share for the current fiscal year.

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.