Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Given Consensus Recommendation of "Buy" by Analysts

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) has been given a consensus rating of "Buy" by the nine research firms that are presently covering the company, MarketBeat.com reports. Nine investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $25.67.

EYPT has been the subject of a number of recent research reports. Chardan Capital cut their target price on Eyepoint Pharmaceuticals from $33.00 to $27.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Mizuho dropped their price objective on shares of Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Wall Street Zen upgraded shares of Eyepoint Pharmaceuticals to a "sell" rating in a research report on Friday, March 14th. Royal Bank Of Canada initiated coverage on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, June 17th. They issued an "outperform" rating and a $28.00 price target for the company. Finally, HC Wainwright reaffirmed a "buy" rating and set a $22.00 price objective on shares of Eyepoint Pharmaceuticals in a report on Thursday, May 29th.

Eyepoint Pharmaceuticals Stock Up 1.8%

Eyepoint Pharmaceuticals stock traded up $0.17 during mid-day trading on Friday, reaching $9.83. The company had a trading volume of 332,554 shares, compared to its average volume of 816,551. The firm has a market cap of $676.68 million, a price-to-earnings ratio of -4.08 and a beta of 1.67. The company has a 50 day moving average of $7.67 and a 200-day moving average of $7.03. 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 released its earnings results on Wednesday, May 7th. The company reported ($0.65) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.65). The business 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%. On average, analysts predict that Eyepoint Pharmaceuticals will post -2.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Suvretta Capital Management LLC raised its stake in shares of Eyepoint Pharmaceuticals by 31.1% in the fourth quarter. Suvretta Capital Management LLC now owns 6,783,091 shares of the company's stock worth $50,534,000 after acquiring an additional 1,607,268 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in Eyepoint Pharmaceuticals by 7.8% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 6,200,000 shares of the company's stock worth $33,604,000 after purchasing an additional 450,000 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Eyepoint Pharmaceuticals by 3.1% during the 4th quarter. Franklin Resources Inc. now owns 4,137,567 shares of the company's stock worth $30,825,000 after buying an additional 125,519 shares in the last quarter. Federated Hermes Inc. boosted its position in Eyepoint Pharmaceuticals by 10.2% in the 1st quarter. Federated Hermes Inc. now owns 4,085,580 shares of the company's stock valued at $22,144,000 after buying an additional 378,135 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Eyepoint Pharmaceuticals by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,834,368 shares of the company's stock valued at $20,782,000 after buying an additional 31,141 shares during the period. 99.41% of the stock is owned by institutional investors.

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.