Chardan Capital Reaffirms "Buy" Rating for Eyepoint Pharmaceuticals (NASDAQ:EYPT)

Key Points

• Chardan Capital has reissued a buy rating for Eyepoint Pharmaceuticals (NASDAQ:EYPT) with a target price of $27.00, indicating a potential upside of 161.75% from its previous close.
• Despite the positive outlook from some analysts, Eyepoint Pharmaceuticals recently reported an earnings miss, with a loss of ($0.85) per share compared to the expected ($0.67).
• Institutional investors hold 99.41% of Eyepoint Pharmaceuticals stock, reflecting strong interest and confidence in the company’s potential.

Chardan Capital reiterated their buy rating on shares of Eyepoint Pharmaceuticals (NASDAQ:EYPT - Free Report) in a research report released on Thursday,Benzinga reports. Chardan Capital currently has a $27.00 price target on the stock.

Several other equities analysts also recently issued reports on the stock. 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. Royal Bank Of Canada assumed coverage on Eyepoint Pharmaceuticals in a research note on Tuesday, June 17th. They issued an "outperform" rating and a $28.00 target price for the company. Finally, HC Wainwright raised their price objective on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $25.78.

Eyepoint Pharmaceuticals Stock Down 3.9%

Shares of Eyepoint Pharmaceuticals stock traded down $0.40 on Thursday, reaching $9.84. The company's stock had a trading volume of 284,554 shares, compared to its average volume of 801,875. The company has a market capitalization of $676.76 million, a price-to-earnings ratio of -3.70 and a beta of 1.73. Eyepoint Pharmaceuticals has a 52 week low of $3.91 and a 52 week high of $13.98. The firm's fifty day simple moving average is $9.65 and its two-hundred day simple moving average is $7.44.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.85) EPS for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.18). Eyepoint Pharmaceuticals had a negative return on equity of 61.64% and a negative net margin of 337.93%. The firm had revenue of $5.33 million for the quarter, compared to the consensus estimate of $6.82 million. As a group, research analysts predict that Eyepoint Pharmaceuticals will post -2.13 EPS for the current year.

Institutional Trading of Eyepoint Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in shares of Eyepoint Pharmaceuticals by 1,636.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company's stock worth $27,000 after purchasing an additional 2,733 shares during the last quarter. R Squared Ltd bought a new position in Eyepoint Pharmaceuticals during the second quarter worth about $100,000. Aberdeen Group plc raised its stake in shares of Eyepoint Pharmaceuticals by 346.9% in the 2nd quarter. Aberdeen Group plc now owns 1,031,201 shares of the company's stock valued at $9,704,000 after purchasing an additional 800,456 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Eyepoint Pharmaceuticals in the 2nd quarter valued at about $114,000. Finally, Dynamic Technology Lab Private Ltd increased its position in shares of Eyepoint Pharmaceuticals by 127.8% in the first quarter. Dynamic Technology Lab Private Ltd now owns 73,310 shares of the company's stock valued at $397,000 after acquiring an additional 41,132 shares during the last quarter. Institutional investors and hedge funds own 99.41% of the company's stock.

Eyepoint Pharmaceuticals Company Profile

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.