EyePoint Pharmaceuticals (NASDAQ:EYPT) Now Covered by Analysts at Royal Bank of Canada

Equities research analysts at Royal Bank of Canada assumed coverage on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a report released on Tuesday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $28.00 price target on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 214.61% from the stock’s current price.

A number of other equities research analysts have also weighed in on EYPT. Mizuho reduced their price objective on shares of EyePoint Pharmaceuticals from $30.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, May 16th. Chardan Capital dropped their target price on EyePoint Pharmaceuticals from $33.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of EyePoint Pharmaceuticals in a report on Thursday, May 29th. Finally, Wall Street Zen raised EyePoint Pharmaceuticals to a “sell” rating in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.67.

EyePoint Pharmaceuticals Price Performance

EYPT opened at $8.90 on Tuesday. The stock has a market capitalization of $612.42 million, a price-to-earnings ratio of -4.45 and a beta of 1.61. The business has a fifty day moving average price of $6.63 and a 200 day moving average price of $6.90. EyePoint Pharmaceuticals has a 12 month low of $3.91 and a 12 month high of $13.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.65) EPS for the quarter, hitting analysts’ consensus estimates of ($0.65). The business had revenue of $24.50 million during the quarter, compared to the consensus estimate of $8.84 million. EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. On average, research analysts anticipate that EyePoint Pharmaceuticals will post -2.13 earnings per share for the current year.

Institutional Trading of EyePoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in EyePoint Pharmaceuticals by 28.8% during the 4th quarter. Bank of America Corp DE now owns 648,030 shares of the company’s stock worth $4,828,000 after buying an additional 145,065 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of EyePoint Pharmaceuticals during the fourth quarter worth approximately $76,000. Rhumbline Advisers grew its position in shares of EyePoint Pharmaceuticals by 16.1% during the fourth quarter. Rhumbline Advisers now owns 89,560 shares of the company’s stock worth $667,000 after acquiring an additional 12,443 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of EyePoint Pharmaceuticals by 70.7% in the 4th quarter. ProShare Advisors LLC now owns 21,679 shares of the company’s stock valued at $162,000 after acquiring an additional 8,981 shares during the period. Finally, Corebridge Financial Inc. raised its position in EyePoint Pharmaceuticals by 21.6% in the 4th quarter. Corebridge Financial Inc. now owns 32,499 shares of the company’s stock valued at $242,000 after purchasing an additional 5,765 shares during the last quarter. Institutional investors and hedge funds own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Company Profile

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.