EyePoint Pharmaceuticals (NASDAQ:EYPT) Earns Buy Rating from Chardan Capital

EyePoint Pharmaceuticals (NASDAQ:EYPT)‘s stock had its “buy” rating restated by stock analysts at Chardan Capital in a research note issued to investors on Thursday,Benzinga reports. They currently have a $33.00 price target on the stock. Chardan Capital’s price target suggests a potential upside of 408.47% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Citigroup began coverage on EyePoint Pharmaceuticals in a research note on Tuesday, January 7th. They set a “buy” rating and a $33.00 price objective on the stock. Robert W. Baird reduced their price target on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Scotiabank began coverage on EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price objective for the company. Finally, HC Wainwright restated a “buy” rating and issued a $22.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $26.63.

EyePoint Pharmaceuticals Price Performance

NASDAQ:EYPT opened at $6.49 on Thursday. The company has a market capitalization of $442.94 million, a price-to-earnings ratio of -3.25 and a beta of 1.51. The business has a 50 day moving average of $7.87 and a 200 day moving average of $8.80. EyePoint Pharmaceuticals has a 1-year low of $6.35 and a 1-year high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.06). EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. The business had revenue of $10.52 million during the quarter, compared to the consensus estimate of $12.35 million. As a group, sell-side analysts anticipate that EyePoint Pharmaceuticals will post -2.13 EPS for the current year.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Large investors have recently modified their holdings of the stock. AlphaQuest LLC lifted its holdings in EyePoint Pharmaceuticals by 13,246.6% in the fourth quarter. AlphaQuest LLC now owns 9,743 shares of the company’s stock worth $73,000 after buying an additional 9,670 shares during the period. Raymond James Financial Inc. bought a new position in shares of EyePoint Pharmaceuticals in the 4th quarter worth approximately $76,000. Charles Schwab Investment Management Inc. lifted its stake in shares of EyePoint Pharmaceuticals by 33.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 191,165 shares of the company’s stock valued at $1,424,000 after purchasing an additional 48,402 shares during the period. Levin Capital Strategies L.P. boosted its position in shares of EyePoint Pharmaceuticals by 440.0% during the fourth quarter. Levin Capital Strategies L.P. now owns 54,000 shares of the company’s stock valued at $402,000 after purchasing an additional 44,000 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in EyePoint Pharmaceuticals by 22.2% in the fourth quarter. Bank of New York Mellon Corp now owns 204,260 shares of the company’s stock worth $1,522,000 after purchasing an additional 37,054 shares during the period. Institutional investors 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.