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

Key Points

• Eyepoint Pharmaceuticals, Inc. has received a consensus recommendation of "Buy" from eight ratings firms, indicating positive outlook for the stock.
• The average 12-month price target set by analysts for Eyepoint Pharmaceuticals is $25.38, reflecting strong investment interest.
• Despite recently reported earnings showing a loss per share of ($0.85), the company continues to attract significant institutional investment, with ownership reaching 99.41%.

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) has received a consensus recommendation of "Buy" from the eight ratings firms that are presently covering the company, Marketbeat reports. Eight research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokers that have issued a report on the stock in the last year is $25.3750.

EYPT has been the subject of several analyst reports. HC Wainwright increased their target price on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Royal Bank Of Canada began coverage on Eyepoint Pharmaceuticals in a research report on Tuesday, June 17th. They set an "outperform" rating and a $28.00 price target for the company. Mizuho lowered their price target on Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Finally, Chardan Capital reaffirmed a "buy" rating and set a $27.00 price target on shares of Eyepoint Pharmaceuticals in a research report on Thursday, August 7th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC raised its position 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 worth $27,000 after acquiring an additional 2,733 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Eyepoint Pharmaceuticals by 218.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company's stock worth $82,000 after acquiring an additional 5,967 shares in the last quarter. Virtus ETF Advisers LLC bought a new position in shares of Eyepoint Pharmaceuticals in the 4th quarter worth approximately $67,000. Raymond James Financial Inc. bought a new position in shares of Eyepoint Pharmaceuticals in the 4th quarter worth approximately $76,000. Finally, GAMMA Investing LLC raised its position in shares of Eyepoint Pharmaceuticals by 3,174.4% in the 1st quarter. GAMMA Investing LLC now owns 10,249 shares of the company's stock worth $56,000 after acquiring an additional 9,936 shares in the last quarter. Institutional investors own 99.41% of the company's stock.

Eyepoint Pharmaceuticals Trading Up 2.0%

EYPT opened at $11.83 on Monday. The stock has a 50-day moving average price of $10.16 and a 200-day moving average price of $7.68. Eyepoint Pharmaceuticals has a 12-month low of $3.91 and a 12-month high of $13.98. The stock has a market capitalization of $815.44 million, a P/E ratio of -4.41 and a beta of 1.73.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.18). Eyepoint Pharmaceuticals had a negative return on equity of 63.80% and a negative net margin of 337.93%.The firm had revenue of $5.33 million during the quarter, compared to analysts' expectations of $6.82 million. On average, equities research analysts predict that Eyepoint Pharmaceuticals will post -2.13 EPS 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.

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