Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Stock Has Consensus Price Target of $21.85 According to Brokerages

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have been assigned a consensus recommendation of “Hold” from the thirteen brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $21.85.

A number of analysts have issued reports on EYPT shares. Chardan Capital cut shares of Eyepoint Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $5.00 target price for the company. in a research note on Tuesday, August 18th. Stifel Nicolaus initiated coverage on Eyepoint Pharmaceuticals in a report on Thursday, July 16th. They issued a “buy” rating and a $40.00 target price for the company. Citigroup reduced their price objective on Eyepoint Pharmaceuticals to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, August 18th. Weiss Ratings upgraded Eyepoint Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 1st. Finally, Royal Bank Of Canada cut their target price on shares of Eyepoint Pharmaceuticals to $1.00 and set a “sector perform” rating on the stock in a report on Tuesday, October 20th.

Eyepoint Pharmaceuticals Stock Down 9.6%

Shares of EYPT stock opened at $0.37 on Friday. The stock has a market capitalization of $31.53 million, a P/E ratio of -0.10 and a beta of 1.67. Eyepoint Pharmaceuticals has a fifty-two week low of $0.36 and a fifty-two week high of $19.11. The stock has a 50-day simple moving average of $3.62 and a 200 day simple moving average of $11.33.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.08). Eyepoint Pharmaceuticals had a negative net margin of 10,994.73% and a negative return on equity of 135.81%. The company had revenue of $0.51 million for the quarter, compared to analyst estimates of $0.45 million. On average, sell-side analysts anticipate that Eyepoint Pharmaceuticals will post -3.46 earnings per share for the current year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in EYPT. KBC Group NV bought a new stake in Eyepoint Pharmaceuticals in the first quarter valued at approximately $29,000. Integrated Wealth Concepts LLC acquired a new position in shares of Eyepoint Pharmaceuticals during the 2nd quarter worth $72,000. Pictet Asset Management Holding SA bought a new position in Eyepoint Pharmaceuticals in the 1st quarter valued at approximately $141,000. Engineers Gate Manager LP acquired a new stake in shares of Eyepoint Pharmaceuticals during the second quarter valued at about $161,000. Finally, Janney Montgomery Scott LLC grew its stake in shares of Eyepoint Pharmaceuticals by 14.8% in the first quarter. Janney Montgomery Scott LLC now owns 30,315 shares of the company’s stock worth $391,000 after purchasing an additional 3,900 shares during the last quarter. 99.41% of the stock is currently owned by institutional investors and hedge funds.

About Eyepoint Pharmaceuticals

EyePoint Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for serious eye diseases. The company specializes in sustained-release drug delivery for the retina and other parts of the eye, with the goal of reducing the frequency of injections and improving treatment convenience for patients.

EyePoint’s commercial products include YUTIQ, an injectable fluocinolone acetonide intravitreal implant used to treat chronic noninfectious posterior uveitis, and DEXYCU, an ophthalmic formulation of dexamethasone used to treat inflammation following ocular surgery.