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

Key Points

• Eyepoint Pharmaceuticals has received a consensus rating of "Buy" from analysts, with an average target price of $26.86 based on seven research firms covering the stock.
• The company recently reported disappointing earnings, with a loss of ($0.85) earnings per share, missing analyst estimates.
• Institutional investors hold a significant majority, owning 99.41% of Eyepoint Pharmaceuticals' stock, indicating strong institutional backing.

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) have been assigned an average rating of "Buy" from the seven research firms that are covering the company, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $26.8571.

EYPT has been the topic of a number of research analyst reports. Royal Bank Of Canada began coverage on Eyepoint Pharmaceuticals in a research note on Tuesday, June 17th. They issued an "outperform" rating and a $28.00 price target on the stock. HC Wainwright lifted their target price on shares of Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Chardan Capital reaffirmed a "buy" rating and set a $27.00 target price on shares of Eyepoint Pharmaceuticals in a report on Thursday, August 7th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC grew its position in shares of Eyepoint Pharmaceuticals by 1,636.5% in the second 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. GAMMA Investing LLC grew its holdings 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 buying an additional 9,936 shares in the last quarter. Tower Research Capital LLC TRC increased its stake 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 during the last quarter. Arizona State Retirement System raised its holdings in shares of Eyepoint Pharmaceuticals by 12.7% during the 1st quarter. Arizona State Retirement System now owns 16,600 shares of the company's stock worth $90,000 after acquiring an additional 1,877 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Eyepoint Pharmaceuticals during the 2nd quarter valued at about $100,000. 99.41% of the stock is currently owned by institutional investors and hedge funds.

Eyepoint Pharmaceuticals Price Performance

NASDAQ EYPT traded up $0.11 on Friday, hitting $13.36. The company had a trading volume of 1,311,247 shares, compared to its average volume of 850,305. The company's fifty day moving average price is $11.49 and its 200-day moving average price is $8.64. The company has a market capitalization of $920.90 million, a PE ratio of -4.99 and a beta of 1.93. Eyepoint Pharmaceuticals has a 12-month low of $3.91 and a 12-month high of $14.42.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.18). The company 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%. On average, sell-side analysts anticipate 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.