EyePoint Pharmaceuticals’ (EYPT) Buy Rating Reaffirmed at HC Wainwright

EyePoint Pharmaceuticals (NASDAQ:EYPT)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research note issued to investors on Thursday,Benzinga reports. They currently have a $22.00 target price on the stock. HC Wainwright’s price target indicates a potential upside of 234.35% from the company’s current price.

A number of other equities research analysts have also recently weighed in on EYPT. Chardan Capital reaffirmed a “buy” rating and set a $33.00 price target on shares of EyePoint Pharmaceuticals in a report on Thursday, February 6th. Robert W. Baird cut their price target on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Finally, Citigroup initiated coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They set a “buy” rating and a $33.00 price objective on the stock. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.63.

EyePoint Pharmaceuticals Stock Performance

EYPT opened at $6.58 on Thursday. The firm has a market cap of $449.09 million, a price-to-earnings ratio of -3.29 and a beta of 1.51. The firm’s 50-day simple moving average is $7.28 and its 200-day simple moving average is $8.48. EyePoint Pharmaceuticals has a twelve month low of $5.54 and a twelve month high of $26.76.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Suvretta Capital Management LLC grew its position in shares of EyePoint Pharmaceuticals by 31.1% during 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 period. Adage Capital Partners GP L.L.C. boosted 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 acquiring an additional 1,958,580 shares during the last quarter. Franklin Resources Inc. boosted its stake in EyePoint Pharmaceuticals by 3.1% in the fourth quarter. Franklin Resources Inc. now owns 4,137,567 shares of the company’s stock valued at $30,825,000 after acquiring an additional 125,519 shares during the last quarter. Vanguard Group Inc. grew its holdings in EyePoint Pharmaceuticals by 24.8% during the 4th quarter. Vanguard Group Inc. now owns 3,803,227 shares of the company’s stock worth $28,334,000 after acquiring an additional 755,045 shares during the period. Finally, Federated Hermes Inc. raised its position in shares of EyePoint Pharmaceuticals by 92.7% during 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. 99.41% of the stock is currently 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.