EyePoint Pharmaceuticals (NASDAQ:EYPT) Rating Reiterated by HC Wainwright

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

A number of other analysts have also weighed in on the stock. Scotiabank began coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price objective for the company. Jefferies Financial Group assumed coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target for the company. Chardan Capital reiterated a “buy” rating and set a $28.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Friday, June 28th. JPMorgan Chase & Co. reduced their price objective on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a research note on Tuesday, August 13th. Finally, StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, 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 company has a market capitalization of $511.65 million, a PE ratio of -5.34 and a beta of 1.57. The company has a 50 day moving average price of $8.87 and a 200-day moving average price of $10.75. 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 released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.03). EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. The firm had revenue of $9.48 million for the quarter, compared to analysts’ expectations of $11.61 million. On average, analysts forecast that EyePoint Pharmaceuticals will post -2.33 earnings per share for the current year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of large investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. increased its position in EyePoint Pharmaceuticals by 44.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock valued at $77,000 after buying an additional 1,136 shares in the last quarter. Arizona State Retirement System grew its stake in shares of EyePoint Pharmaceuticals by 9.7% during the second quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock worth $115,000 after acquiring an additional 1,171 shares during the last quarter. Essex Investment Management Co. LLC increased its holdings in shares of EyePoint Pharmaceuticals by 1.5% during the first quarter. Essex Investment Management Co. LLC now owns 149,819 shares of the company’s stock valued at $3,097,000 after acquiring an additional 2,278 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of EyePoint Pharmaceuticals by 26.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,040 shares of the company’s stock valued at $373,000 after purchasing an additional 3,780 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of EyePoint Pharmaceuticals by 68.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock valued at $82,000 after purchasing an additional 4,172 shares during 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.