EyePoint Pharmaceuticals (NASDAQ:EYPT) Receives “Buy” Rating from HC Wainwright

EyePoint Pharmaceuticals (NASDAQ:EYPT)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research note issued on Friday, Benzinga reports. They presently have a $30.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 213.81% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. Chardan Capital reissued a “buy” rating and set a $28.00 target price on shares of EyePoint Pharmaceuticals in a report on Friday, June 28th. StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. Jefferies Financial Group assumed coverage on EyePoint Pharmaceuticals in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 target price on the stock. Scotiabank initiated coverage on EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price objective on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat, EyePoint Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $29.00.

EyePoint Pharmaceuticals Stock Performance

EyePoint Pharmaceuticals stock opened at $9.56 on Friday. The business’s 50-day simple moving average is $8.87 and its two-hundred day simple moving average is $10.75. The company has a market cap of $511.65 million, a PE ratio of -5.34 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.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Wednesday, August 7th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $9.48 million during the quarter, compared to analysts’ expectations of $11.61 million. As a group, analysts predict that EyePoint Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. RA Capital Management L.P. purchased a new stake in EyePoint Pharmaceuticals in the 1st quarter worth $19,401,000. Point72 Asset Management L.P. purchased a new stake in shares of EyePoint Pharmaceuticals during the second quarter worth about $5,488,000. Cubist Systematic Strategies LLC raised its position in shares of EyePoint Pharmaceuticals by 842.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock worth $4,143,000 after purchasing an additional 425,717 shares during the last quarter. Vanguard Group Inc. raised its position in shares of EyePoint Pharmaceuticals by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock worth $49,530,000 after purchasing an additional 362,168 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its stake in EyePoint Pharmaceuticals by 51.4% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock valued at $7,637,000 after buying an additional 298,196 shares in the last quarter. 99.41% of the stock is owned by institutional investors and hedge funds.

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.