Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives $26.86 Consensus Price Target from Analysts

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has been given a consensus rating of “Buy” by the seven research firms that are currently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $26.8571.

Several equities analysts have issued reports on EYPT shares. HC Wainwright lifted their target price on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Royal Bank Of Canada assumed coverage on Eyepoint Pharmaceuticals in a report on Tuesday, June 17th. They issued an “outperform” rating and a $28.00 price target for the company. Finally, Chardan Capital reissued a “buy” rating and issued a $27.00 price target on shares of Eyepoint Pharmaceuticals in a report on Thursday, August 7th.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in EYPT. Bank of America Corp DE lifted its holdings in shares of Eyepoint Pharmaceuticals by 28.8% during the fourth quarter. Bank of America Corp DE now owns 648,030 shares of the company’s stock worth $4,828,000 after purchasing an additional 145,065 shares during the period. Invesco Ltd. lifted its holdings in shares of Eyepoint Pharmaceuticals by 174.3% during the first quarter. Invesco Ltd. now owns 42,948 shares of the company’s stock worth $233,000 after purchasing an additional 27,291 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Eyepoint Pharmaceuticals by 70.7% during the fourth quarter. ProShare Advisors LLC now owns 21,679 shares of the company’s stock worth $162,000 after purchasing an additional 8,981 shares during the period. American Century Companies Inc. acquired a new stake in shares of Eyepoint Pharmaceuticals during the first quarter worth about $232,000. Finally, Millennium Management LLC acquired a new stake in shares of Eyepoint Pharmaceuticals during the fourth quarter worth about $3,324,000. Institutional investors and hedge funds own 99.41% of the company’s stock.

Eyepoint Pharmaceuticals Price Performance

EYPT opened at $13.39 on Friday. The business’s 50-day moving average is $11.56 and its two-hundred day moving average is $8.67. Eyepoint Pharmaceuticals has a 1 year low of $3.91 and a 1 year high of $14.42. The firm has a market capitalization of $922.93 million, a PE ratio of -5.00 and a beta of 1.93.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its earnings results on Wednesday, August 6th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.18). Eyepoint Pharmaceuticals had a negative net margin of 337.93% and a negative return on equity of 63.80%. The company had revenue of $5.33 million during the quarter, compared to analysts’ expectations of $6.82 million. As a group, sell-side analysts expect that Eyepoint Pharmaceuticals will post -2.13 EPS for the current year.

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.