EyePoint Pharmaceuticals’ (EYPT) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a research report report published on Thursday,Benzinga reports. HC Wainwright currently has a $22.00 price target on the stock.

EYPT has been the subject of several other reports. Chardan Capital reaffirmed a “buy” rating and set a $33.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, February 6th. Robert W. Baird lowered their price objective on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Finally, Citigroup initiated coverage on shares of EyePoint Pharmaceuticals in a research report on Tuesday, January 7th. They set a “buy” rating and a $33.00 target price for the company. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $26.63.

EyePoint Pharmaceuticals Stock Up 4.5 %

Shares of EYPT opened at $7.13 on Thursday. EyePoint Pharmaceuticals has a 52-week low of $5.54 and a 52-week high of $26.06. The company has a 50-day simple moving average of $7.25 and a 200-day simple moving average of $8.46. The company has a market capitalization of $486.63 million, a PE ratio of -3.57 and a beta of 1.41.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Wednesday, March 5th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.10). EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. The company had revenue of $11.60 million during the quarter, compared to analysts’ expectations of $11.02 million. On average, research analysts anticipate that EyePoint Pharmaceuticals will post -2.13 EPS for the current year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of institutional investors have recently modified their holdings of EYPT. Summit Investment Advisors Inc. grew its stake in EyePoint Pharmaceuticals by 39.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,838 shares of the company’s stock worth $51,000 after acquiring an additional 1,940 shares during the period. KLP Kapitalforvaltning AS acquired a new position in EyePoint Pharmaceuticals in the fourth quarter valued at $59,000. Virtus ETF Advisers LLC purchased a new position in EyePoint Pharmaceuticals during the fourth quarter worth about $67,000. AlphaQuest LLC boosted its stake in EyePoint Pharmaceuticals by 13,246.6% in the 4th 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 last quarter. Finally, Raymond James Financial Inc. purchased a new stake in EyePoint Pharmaceuticals in the 4th quarter valued at about $76,000. 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.