EyePoint Pharmaceuticals (NASDAQ:EYPT) Receives New Coverage from Analysts at Scotiabank

Scotiabank started coverage on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a research note issued to investors on Wednesday morning, MarketBeat reports. The brokerage issued a sector outperform rating and a $18.00 target price on the stock.

Other equities research analysts have also issued reports about the company. Chardan Capital reiterated a “buy” rating and set a $28.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Friday, June 28th. Jefferies Financial Group assumed coverage on EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target for the company. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, June 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of EyePoint Pharmaceuticals in a report on Thursday, June 20th. Finally, JPMorgan Chase & Co. decreased 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 note on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

EyePoint Pharmaceuticals Trading Up 14.2 %

Shares of EYPT stock opened at $11.28 on Wednesday. EyePoint Pharmaceuticals has a 12-month low of $5.67 and a 12-month high of $30.99. The company has a market capitalization of $587.51 million, a P/E ratio of -6.20 and a beta of 1.57. The business’s 50 day moving average is $8.60 and its two-hundred day moving average is $11.10.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.03). EyePoint Pharmaceuticals had a negative net margin of 172.29% and a negative return on equity of 43.24%. The company had revenue of $9.48 million for the quarter, compared to analysts’ expectations of $11.61 million. On average, research analysts predict that EyePoint Pharmaceuticals will post -2.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Ameritas Investment Partners Inc. boosted its position in shares of EyePoint Pharmaceuticals by 44.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock worth $77,000 after purchasing an additional 1,136 shares during the period. Arizona State Retirement System lifted its stake in EyePoint Pharmaceuticals by 9.7% in the second quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $115,000 after buying an additional 1,171 shares during the last quarter. Essex Investment Management Co. LLC boosted its stake in EyePoint Pharmaceuticals by 1.5% during the 1st quarter. Essex Investment Management Co. LLC now owns 149,819 shares of the company’s stock worth $3,097,000 after purchasing an additional 2,278 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of EyePoint Pharmaceuticals by 26.5% during the first quarter. Janney Montgomery Scott LLC now owns 18,040 shares of the company’s stock worth $373,000 after buying an additional 3,780 shares during the period. Finally, American International Group Inc. grew its stake in shares of EyePoint Pharmaceuticals by 38.4% in the 1st quarter. American International Group Inc. now owns 18,378 shares of the company’s stock valued at $380,000 after purchasing an additional 5,101 shares during the last quarter. 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.