EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives Consensus Rating of “Buy” from Analysts

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have received an average recommendation of “Buy” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a buy rating. The average twelve-month price objective among analysts that have covered the stock in the last year is $25.38.

Several equities analysts have issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, May 29th. Chardan Capital cut their price target on shares of EyePoint Pharmaceuticals from $33.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Wall Street Zen raised shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Friday, March 14th. Finally, Mizuho cut their price target on shares of EyePoint Pharmaceuticals from $30.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, May 16th.

EyePoint Pharmaceuticals Stock Up 1.9%

NASDAQ EYPT opened at $9.03 on Wednesday. EyePoint Pharmaceuticals has a 52-week low of $3.91 and a 52-week high of $13.99. The business’s 50-day moving average price is $6.54 and its 200 day moving average price is $6.90. The firm has a market cap of $621.36 million, a P/E ratio of -4.52 and a beta of 1.61.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results on Wednesday, May 7th. The company reported ($0.65) earnings per share for the quarter, meeting the consensus estimate of ($0.65). EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. The company had revenue of $24.50 million for the quarter, compared to the consensus estimate of $8.84 million. As a group, analysts anticipate that EyePoint Pharmaceuticals will post -2.13 earnings per share for the current year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in EYPT. RA Capital Management L.P. acquired a new position in shares of EyePoint Pharmaceuticals during the 4th quarter worth $23,705,000. TCG Crossover Management LLC grew its stake in shares of EyePoint Pharmaceuticals by 287.3% during the 4th quarter. TCG Crossover Management LLC now owns 3,572,335 shares of the company’s stock worth $26,614,000 after purchasing an additional 2,650,000 shares during the period. Adage Capital Partners GP L.L.C. grew its stake in EyePoint Pharmaceuticals by 51.7% in the 4th 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 during the last quarter. Federated Hermes Inc. grew its stake in EyePoint Pharmaceuticals by 92.7% in the 4th quarter. Federated Hermes Inc. now owns 3,707,445 shares of the company’s stock valued at $27,620,000 after acquiring an additional 1,783,765 shares during the last quarter. Finally, Suvretta Capital Management LLC grew its stake 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 acquiring an additional 1,607,268 shares during the last quarter. 99.41% of the stock is owned by institutional investors and hedge funds.

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.