EyePoint Pharmaceuticals (NASDAQ:EYPT) Given New $33.00 Price Target at Chardan Capital

EyePoint Pharmaceuticals (NASDAQ:EYPT) had its price objective upped by Chardan Capital from $28.00 to $33.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. Scotiabank assumed coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price objective on the stock. JPMorgan Chase & Co. lowered their price target on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. HC Wainwright reissued a “buy” rating and issued a $30.00 target price on shares of EyePoint Pharmaceuticals in a report on Friday, October 25th. Finally, Jefferies Financial Group began coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $29.63.

EyePoint Pharmaceuticals Stock Performance

Shares of NASDAQ:EYPT traded up $0.04 during mid-day trading on Friday, hitting $11.63. The stock had a trading volume of 537,131 shares, compared to its average volume of 940,403. EyePoint Pharmaceuticals has a 12-month low of $5.86 and a 12-month high of $30.99. The company has a market cap of $622.41 million, a PE ratio of -5.82 and a beta of 1.50. The company’s 50 day moving average is $9.50 and its 200-day moving average is $10.07.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. The business had revenue of $9.48 million for the quarter, compared to the consensus estimate of $11.61 million. On average, equities research analysts predict that EyePoint Pharmaceuticals will post -2.29 EPS for the current fiscal year.

Institutional Trading of EyePoint Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. RA Capital Management L.P. purchased a new stake in EyePoint Pharmaceuticals in the first quarter valued at about $19,401,000. Point72 Asset Management L.P. acquired a new stake in shares of EyePoint Pharmaceuticals in the second quarter worth approximately $5,488,000. Cubist Systematic Strategies LLC lifted its position in EyePoint Pharmaceuticals by 842.5% during the second quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock worth $4,143,000 after buying an additional 425,717 shares in the last quarter. Vanguard Group Inc. raised its position in EyePoint Pharmaceuticals by 17.8% in the first quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock valued at $49,530,000 after purchasing an additional 362,168 shares during the period. Finally, Deerfield Management Company L.P. Series C raised its position in EyePoint Pharmaceuticals by 51.4% in the second quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock valued at $7,637,000 after purchasing an additional 298,196 shares during the period. 99.41% of the stock is 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.