EyePoint Pharmaceuticals (NASDAQ:EYPT) Given “Buy” Rating at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a research report released on Thursday,Benzinga reports. They currently have a $33.00 target price on the stock.

Several other brokerages also recently issued reports on EYPT. Citigroup began coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They set a “buy” rating and a $33.00 price target for the company. HC Wainwright reissued a “buy” rating and set a $22.00 price target on shares of EyePoint Pharmaceuticals in a report on Thursday. Finally, Robert W. Baird cut 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. One research 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $26.63.

EyePoint Pharmaceuticals Price Performance

EyePoint Pharmaceuticals stock opened at $6.82 on Thursday. EyePoint Pharmaceuticals has a 12 month low of $5.54 and a 12 month high of $26.76. The company has a market cap of $465.47 million, a PE ratio of -3.41 and a beta of 1.51. The company has a fifty day moving average price of $7.27 and a two-hundred day moving average price of $8.47.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings results on Wednesday, March 5th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $11.60 million for the quarter, compared to analyst estimates of $11.02 million. Equities research analysts anticipate that EyePoint Pharmaceuticals will post -2.13 earnings per share for the current year.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Investment Advisors Inc. raised its position in EyePoint Pharmaceuticals by 39.6% in the fourth 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 in the last quarter. KLP Kapitalforvaltning AS bought a new stake in EyePoint Pharmaceuticals in the fourth quarter worth about $59,000. Virtus ETF Advisers LLC bought a new stake in EyePoint Pharmaceuticals in the fourth quarter worth about $67,000. AlphaQuest LLC raised its position 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 acquiring an additional 9,670 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in EyePoint Pharmaceuticals in the fourth quarter worth about $76,000. 99.41% of the stock is currently owned by 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.