Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives $25.67 Average Target Price from Analysts

Key Points

• Eyepoint Pharmaceuticals has received an average consensus recommendation of "Buy" from nine analyst firms, with a 12-month price target averaging $25.67.
• The company's stock recently opened at $9.84, with a market capitalization of $677.09 million and a 52-week trading range from $3.91 to $13.98.
• Aberdeen Group significantly increased its stake in Eyepoint Pharmaceuticals by 346.9% in the second quarter, now owning over 1 million shares valued at approximately $9.7 million.

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

A number of research analysts have recently weighed in on the company. Mizuho cut their price objective on Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Chardan Capital dropped their target price on Eyepoint Pharmaceuticals from $33.00 to $27.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Royal Bank Of Canada began coverage on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, June 17th. They set an "outperform" rating and a $28.00 price target for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $22.00 price objective on shares of Eyepoint Pharmaceuticals in a report on Thursday, May 29th.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Several hedge funds have recently modified their holdings of EYPT. Nisa Investment Advisors LLC increased its stake in shares of Eyepoint Pharmaceuticals by 1,636.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company's stock valued at $27,000 after purchasing an additional 2,733 shares in the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Eyepoint Pharmaceuticals by 39.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,838 shares of the company's stock valued at $51,000 after buying an additional 1,940 shares in the last quarter. GAMMA Investing LLC grew its stake in Eyepoint Pharmaceuticals by 3,174.4% in the 1st quarter. GAMMA Investing LLC now owns 10,249 shares of the company's stock valued at $56,000 after acquiring an additional 9,936 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in Eyepoint Pharmaceuticals in the 4th quarter worth $59,000. Finally, Virtus ETF Advisers LLC purchased a new position in Eyepoint Pharmaceuticals during the fourth quarter valued at $67,000. 99.41% of the stock is owned by hedge funds and other institutional investors.

Eyepoint Pharmaceuticals Price Performance

Eyepoint Pharmaceuticals stock traded down $0.11 during mid-day trading on Thursday, reaching $9.71. 502,236 shares of the company traded hands, compared to its average volume of 611,722. The firm's fifty day moving average is $9.27 and its two-hundred day moving average is $7.36. The company has a market capitalization of $668.15 million, a price-to-earnings ratio of -4.03 and a beta of 1.73. Eyepoint Pharmaceuticals has a fifty-two week low of $3.91 and a fifty-two week high of $13.98.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.65) earnings per share (EPS) 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%. As a group, equities research analysts predict that Eyepoint Pharmaceuticals will post -2.13 earnings per share for the current 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.