Eyepoint Pharmaceuticals (NASDAQ:EYPT) Given New $39.00 Price Target at Royal Bank Of Canada

Eyepoint Pharmaceuticals (NASDAQ:EYPT) had its target price upped by Royal Bank Of Canada from $28.00 to $39.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 239.13% from the company’s current price.

A number of other analysts have also recently weighed in on the stock. Mizuho set a $28.00 target price on shares of Eyepoint Pharmaceuticals in a research note on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Wednesday, October 8th. Chardan Capital restated a “buy” rating and set a $27.00 target price on shares of Eyepoint Pharmaceuticals in a report on Thursday, August 7th. Finally, HC Wainwright increased their target price on shares of Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $30.50.

Eyepoint Pharmaceuticals Price Performance

Shares of EYPT stock traded up $0.48 on Thursday, hitting $11.50. The company’s stock had a trading volume of 321,224 shares, compared to its average volume of 905,568. Eyepoint Pharmaceuticals has a fifty-two week low of $3.91 and a fifty-two week high of $14.91. The firm’s fifty day moving average price is $12.84 and its 200-day moving average price is $10.22. The stock has a market capitalization of $792.66 million, a price-to-earnings ratio of -4.30 and a beta of 1.85.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results on Wednesday, August 6th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.18). The firm had revenue of $5.33 million during the quarter, compared to the consensus estimate of $6.82 million. Eyepoint Pharmaceuticals had a negative return on equity of 63.80% and a negative net margin of 337.93%. Analysts predict that Eyepoint Pharmaceuticals will post -2.13 EPS for the current fiscal year.

Institutional Trading of Eyepoint Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Raymond James Financial Inc. increased its stake in shares of Eyepoint Pharmaceuticals by 11.0% in the 2nd quarter. Raymond James Financial Inc. now owns 11,900 shares of the company’s stock valued at $112,000 after acquiring an additional 1,177 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of Eyepoint Pharmaceuticals by 17.3% in the 3rd quarter. New York State Common Retirement Fund now owns 12,214 shares of the company’s stock valued at $174,000 after acquiring an additional 1,800 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Eyepoint Pharmaceuticals by 12.7% in the 1st quarter. Arizona State Retirement System now owns 16,600 shares of the company’s stock valued at $90,000 after acquiring an additional 1,877 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Eyepoint Pharmaceuticals by 1,636.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock valued at $27,000 after purchasing an additional 2,733 shares in the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of Eyepoint Pharmaceuticals in the 3rd quarter worth $50,000. Institutional investors 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.