Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives Average Rating 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 earned an average recommendation of "Buy" from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $26.8571.

A number of research firms have issued reports on EYPT. Royal Bank Of Canada began coverage on Eyepoint Pharmaceuticals in a research note on Tuesday, June 17th. They set an "outperform" rating and a $28.00 price target for the company. Chardan Capital reiterated a "buy" rating and set a $27.00 price target on shares of Eyepoint Pharmaceuticals in a research note on Thursday, August 7th. HC Wainwright lifted their price target on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Mizuho cut their price target on Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating for the company in a research note on Friday, May 16th.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its position in shares of Eyepoint Pharmaceuticals by 78.4% during the 4th quarter. Wells Fargo & Company MN now owns 34,792 shares of the company's stock worth $259,000 after buying an additional 15,290 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Eyepoint Pharmaceuticals by 16.1% in the 4th quarter. Invesco Ltd. now owns 15,657 shares of the company's stock worth $117,000 after buying an additional 2,177 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Eyepoint Pharmaceuticals by 4.4% in the 4th quarter. Legal & General Group Plc now owns 46,263 shares of the company's stock worth $345,000 after buying an additional 1,932 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Eyepoint Pharmaceuticals in the 4th quarter worth approximately $76,000. Finally, MetLife Investment Management LLC boosted its stake in shares of Eyepoint Pharmaceuticals by 38.3% in the 4th quarter. MetLife Investment Management LLC now owns 40,502 shares of the company's stock worth $302,000 after buying an additional 11,217 shares during the last quarter. Institutional investors and hedge funds own 99.41% of the company's stock.

Eyepoint Pharmaceuticals Price Performance

Shares of EYPT traded down $0.03 during trading hours on Monday, hitting $11.57. The stock had a trading volume of 491,715 shares, compared to its average volume of 703,188. The firm has a 50 day simple moving average of $10.45 and a 200-day simple moving average of $7.85. The firm has a market capitalization of $797.52 million, a P/E ratio of -4.32 and a beta of 1.73. Eyepoint Pharmaceuticals has a 1-year low of $3.91 and a 1-year high of $13.98.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.18). The firm had revenue of $5.33 million during the quarter, compared to analyst estimates of $6.82 million. Eyepoint Pharmaceuticals had a negative net margin of 337.93% and a negative return on equity of 63.80%. Equities analysts predict that Eyepoint Pharmaceuticals will post -2.13 EPS 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.