EyePoint Pharmaceuticals’ (EYPT) “Buy” Rating Reaffirmed at Chardan Capital

Chardan Capital restated their buy rating on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a report released on Tuesday, Benzinga reports. They currently have a $28.00 target price on the stock.

A number of other equities research analysts have also issued reports on EYPT. JPMorgan Chase & Co. reduced their target price on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Friday, October 25th. Jefferies Financial Group initiated coverage on EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective for the company. Scotiabank began coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price target on the stock. Finally, StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

EyePoint Pharmaceuticals Stock Down 4.8 %

Shares of EYPT stock opened at $11.54 on Tuesday. The stock has a market cap of $617.62 million, a P/E ratio of -6.45 and a beta of 1.57. EyePoint Pharmaceuticals has a fifty-two week low of $5.67 and a fifty-two week high of $30.99. The business has a fifty day simple moving average of $9.06 and a 200-day simple moving average of $10.37.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share 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 business had revenue of $9.48 million for the quarter, compared to analysts’ expectations of $11.61 million. On average, sell-side analysts anticipate that EyePoint Pharmaceuticals will post -2.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. increased its position in EyePoint Pharmaceuticals by 44.0% during the first 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 last quarter. ProShare Advisors LLC purchased a new stake in shares of EyePoint Pharmaceuticals during the 1st quarter valued at $209,000. China Universal Asset Management Co. Ltd. grew its stake in shares of EyePoint Pharmaceuticals by 68.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock valued at $82,000 after buying an additional 4,172 shares during the period. Greenwich Wealth Management LLC acquired a new stake in shares of EyePoint Pharmaceuticals during the 2nd quarter worth $94,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of EyePoint Pharmaceuticals by 271.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock worth $95,000 after buying an additional 7,953 shares during the period. 99.41% of the stock is currently 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.