Eyepoint Pharmaceuticals (NASDAQ:EYPT) Given New $23.00 Price Target at HC Wainwright

Key Points

• HC Wainwright has raised its price target for Eyepoint Pharmaceuticals from $22.00 to $23.00, indicating a potential upside of 121.05% from the current stock price.
• Despite positive analyst ratings, Eyepoint Pharmaceuticals' stock recently traded down 4.5% to $10.41, with its twelve-month low at $3.91 and high at $13.98.
• The company reported a loss of ($0.85) EPS in its latest quarterly earnings, missing analysts' expectations by $0.18.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) had its price target hoisted by research analysts at HC Wainwright from $22.00 to $23.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. HC Wainwright's target price indicates a potential upside of 132.44% from the company's previous close.

A number of other research firms also recently commented on EYPT. Chardan Capital decreased their target price on Eyepoint Pharmaceuticals from $33.00 to $27.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Mizuho decreased their price objective on shares of Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Finally, Royal Bank Of Canada started coverage on shares of Eyepoint Pharmaceuticals in a research note on Tuesday, June 17th. They issued an "outperform" rating and a $28.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $25.78.

Eyepoint Pharmaceuticals Price Performance

Shares of NASDAQ EYPT traded down $0.18 during trading on Wednesday, hitting $9.90. 135,906 shares of the company were exchanged, compared to its average volume of 803,353. The firm's fifty day moving average price is $9.59 and its 200 day moving average price is $7.44. The company has a market cap of $680.88 million, a price-to-earnings ratio of -3.69 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) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $5.33 million for the quarter, compared to analyst estimates of $6.82 million. On average, research analysts forecast that Eyepoint Pharmaceuticals will post -2.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EYPT. Bank of America Corp DE raised its position in shares of Eyepoint Pharmaceuticals by 28.8% in the fourth quarter. Bank of America Corp DE now owns 648,030 shares of the company's stock valued at $4,828,000 after buying an additional 145,065 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Eyepoint Pharmaceuticals in the 4th quarter valued at $76,000. ProShare Advisors LLC lifted its stake in shares of Eyepoint Pharmaceuticals by 70.7% during the 4th quarter. ProShare Advisors LLC now owns 21,679 shares of the company's stock worth $162,000 after purchasing an additional 8,981 shares during the period. Corebridge Financial Inc. boosted its holdings in shares of Eyepoint Pharmaceuticals by 21.6% during the fourth quarter. Corebridge Financial Inc. now owns 32,499 shares of the company's stock worth $242,000 after purchasing an additional 5,765 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Eyepoint Pharmaceuticals during the fourth quarter worth $3,324,000. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

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.