EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Given Consensus Recommendation of “Buy” by Analysts

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has earned a consensus rating of “Buy” from the nine brokerages that are currently covering the firm, MarketBeat reports. Nine investment analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $26.63.

EYPT has been the topic of a number of recent research reports. Chardan Capital reaffirmed a “buy” rating and set a $33.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday, March 6th. StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a research note on Friday, March 14th. Citigroup initiated 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. Finally, HC Wainwright reissued a “buy” rating and set a $22.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, March 6th.

EyePoint Pharmaceuticals Trading Down 2.5 %

EYPT stock opened at $5.91 on Friday. EyePoint Pharmaceuticals has a 1-year low of $5.54 and a 1-year high of $23.65. The stock has a market cap of $406.19 million, a P/E ratio of -2.96 and a beta of 1.41. The stock’s fifty day simple moving average is $6.82 and its two-hundred day simple moving average is $8.24.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings data on Wednesday, March 5th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by ($0.10). The company had revenue of $11.60 million for the quarter, compared to analysts’ expectations of $11.02 million. EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. As a group, analysts forecast that EyePoint Pharmaceuticals will post -2.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. RA Capital Management L.P. purchased a new stake in shares of EyePoint Pharmaceuticals in the 4th quarter valued at about $23,705,000. TCG Crossover Management LLC raised its stake in EyePoint Pharmaceuticals by 287.3% in the fourth quarter. TCG Crossover Management LLC now owns 3,572,335 shares of the company’s stock valued at $26,614,000 after purchasing an additional 2,650,000 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in 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 purchasing an additional 1,958,580 shares in 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 worth $27,620,000 after buying an additional 1,783,765 shares in the last quarter. Finally, Suvretta Capital Management LLC increased its holdings in shares of EyePoint Pharmaceuticals by 31.1% in the 4th quarter. Suvretta Capital Management LLC now owns 6,783,091 shares of the company’s stock worth $50,534,000 after buying an additional 1,607,268 shares during the last quarter. Institutional investors own 99.41% of the company’s stock.

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.