EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives $25.38 Average Price Target from Brokerages

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) have been given an average rating of "Buy" by the nine research firms that are presently covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a buy recommendation. The average 12 month price target among analysts that have covered the stock in the last year is $25.38.

A number of equities analysts have commented on the stock. HC Wainwright reiterated a "buy" rating and issued a $22.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, May 29th. Wall Street Zen upgraded shares of EyePoint Pharmaceuticals to a "sell" rating in a report on Friday, March 14th. Chardan Capital cut their price objective on shares of EyePoint Pharmaceuticals from $33.00 to $27.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, Mizuho cut their price objective on shares of EyePoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating on the stock in a report on Friday, May 16th.

EyePoint Pharmaceuticals Price Performance

EyePoint Pharmaceuticals stock traded up $0.17 during trading hours on Wednesday, reaching $9.03. The stock had a trading volume of 822,461 shares, compared to its average volume of 819,335. The company has a market cap of $621.36 million, a price-to-earnings ratio of -4.52 and a beta of 1.61. The business's 50 day moving average price is $6.54 and its 200-day moving average price is $6.93. EyePoint Pharmaceuticals has a 52 week low of $3.91 and a 52 week high of $13.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.65) EPS for the quarter, hitting analysts' consensus estimates of ($0.65). The business had revenue of $24.50 million during the quarter, compared to the consensus estimate 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, sell-side analysts forecast that EyePoint Pharmaceuticals will post -2.13 EPS for the current fiscal year.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of large investors have recently bought and sold shares of EYPT. Barclays PLC boosted its position 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 buying an additional 197,033 shares during the last quarter. abrdn plc purchased a new stake in EyePoint Pharmaceuticals in the fourth quarter valued at approximately $1,719,000. Rhumbline Advisers boosted its position in EyePoint Pharmaceuticals by 16.1% in the fourth quarter. Rhumbline Advisers now owns 89,560 shares of the company's stock valued at $667,000 after buying an additional 12,443 shares during the last quarter. Bank of New York Mellon Corp boosted its position in EyePoint Pharmaceuticals by 22.2% in the fourth quarter. Bank of New York Mellon Corp now owns 204,260 shares of the company's stock valued at $1,522,000 after buying an additional 37,054 shares during the last quarter. Finally, Levin Capital Strategies L.P. boosted its position in EyePoint Pharmaceuticals by 440.0% in the fourth quarter. Levin Capital Strategies L.P. now owns 54,000 shares of the company's stock valued at $402,000 after buying an additional 44,000 shares during the last quarter. Hedge funds and other institutional investors own 99.41% of the company's stock.

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.