EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives $26.63 Average PT from Brokerages

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has received an average recommendation of “Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. Nine investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $26.63.

EYPT has been the topic of several research analyst reports. StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a research report on Friday, March 14th. Chardan Capital reissued a “buy” rating and set a $33.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, March 6th. HC Wainwright restated a “buy” rating and issued a $22.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, March 6th. Finally, Citigroup started coverage on shares of EyePoint Pharmaceuticals in a research note on Tuesday, January 7th. They set a “buy” rating and a $33.00 price target on the stock.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in EYPT. Suvretta Capital Management LLC grew its position in EyePoint Pharmaceuticals by 31.1% in the 4th quarter. Suvretta Capital Management LLC now owns 6,783,091 shares of the company’s stock valued at $50,534,000 after buying an additional 1,607,268 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of EyePoint Pharmaceuticals by 51.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,750,000 shares of the company’s stock valued at $42,838,000 after acquiring an additional 1,958,580 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of EyePoint Pharmaceuticals by 3.1% during the fourth quarter. Franklin Resources Inc. now owns 4,137,567 shares of the company’s stock worth $30,825,000 after acquiring an additional 125,519 shares during the period. Vanguard Group Inc. raised its holdings in EyePoint Pharmaceuticals by 24.8% during the fourth quarter. Vanguard Group Inc. now owns 3,803,227 shares of the company’s stock worth $28,334,000 after purchasing an additional 755,045 shares in the last quarter. Finally, Federated Hermes Inc. lifted its position in EyePoint Pharmaceuticals by 92.7% in the fourth quarter. Federated Hermes Inc. now owns 3,707,445 shares of the company’s stock valued at $27,620,000 after purchasing an additional 1,783,765 shares during the period. Hedge funds and other institutional investors own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Stock Down 6.8 %

Shares of EyePoint Pharmaceuticals stock opened at $5.05 on Friday. EyePoint Pharmaceuticals has a 52-week low of $5.00 and a 52-week high of $23.65. The company has a market capitalization of $347.08 million, a P/E ratio of -2.53 and a beta of 1.41. The company has a 50 day moving average of $6.69 and a 200 day moving average of $8.18.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings data 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 return on equity of 43.01% and a negative net margin of 226.57%. The firm had revenue of $11.60 million for the quarter, compared to analysts’ expectations of $11.02 million. As a group, research analysts anticipate that EyePoint Pharmaceuticals will post -2.13 earnings per share for the current fiscal year.

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.