Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives Average Recommendation of “Buy” from Brokerages

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has earned an average recommendation of “Buy” from the nine ratings firms that are currently covering the company, MarketBeat reports. Nine investment analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $25.67.

A number of equities research analysts recently commented on EYPT shares. Mizuho lowered their price target on Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, May 16th. Chardan Capital dropped their price target on shares of Eyepoint Pharmaceuticals from $33.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. Royal Bank Of Canada began coverage on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, June 17th. They issued an “outperform” rating and a $28.00 price objective for the company. Finally, HC Wainwright reissued a “buy” rating and set a $22.00 target price on shares of Eyepoint Pharmaceuticals in a research report on Thursday, May 29th.

Eyepoint Pharmaceuticals Stock Performance

Shares of NASDAQ EYPT opened at $9.84 on Thursday. The stock has a market cap of $677.09 million, a price-to-earnings ratio of -4.08 and a beta of 1.67. Eyepoint Pharmaceuticals has a fifty-two week low of $3.91 and a fifty-two week high of $13.98. The firm’s 50-day simple moving average is $9.11 and its 200 day simple moving average is $7.33.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.65) EPS for the quarter, hitting the consensus estimate of ($0.65). The firm had revenue of $24.50 million during 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, sell-side analysts predict that Eyepoint Pharmaceuticals will post -2.13 EPS for the current year.

Institutional Trading of Eyepoint Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. Aberdeen Group plc grew its stake in shares of Eyepoint Pharmaceuticals by 346.9% during the 2nd quarter. Aberdeen Group plc now owns 1,031,201 shares of the company’s stock worth $9,704,000 after acquiring an additional 800,456 shares during the period. Janney Montgomery Scott LLC bought a new position in Eyepoint Pharmaceuticals during the second quarter worth about $114,000. Dynamic Technology Lab Private Ltd increased its stake 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 worth $397,000 after purchasing an additional 41,132 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Eyepoint Pharmaceuticals by 7.8% in the first quarter. Adage Capital Partners GP L.L.C. now owns 6,200,000 shares of the company’s stock valued at $33,604,000 after purchasing an additional 450,000 shares during the period. Finally, MYDA Advisors LLC lifted its stake in shares of Eyepoint Pharmaceuticals by 12.5% during the 1st quarter. MYDA Advisors LLC now owns 180,000 shares of the company’s stock valued at $976,000 after buying an additional 20,000 shares in the last quarter. 99.41% of the stock is owned by hedge funds and other 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.