Eyepoint Pharmaceuticals (NASDAQ:EYPT) Upgraded by Cantor Fitzgerald to “Strong-Buy” Rating

Eyepoint Pharmaceuticals (NASDAQ:EYPT) was upgraded by stock analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also commented on EYPT. Chardan Capital reiterated a “buy” rating and set a $27.00 price target on shares of Eyepoint Pharmaceuticals in a report on Thursday, August 7th. HC Wainwright upped their price target on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Mizuho set a $28.00 price objective on Eyepoint Pharmaceuticals in a research report on Monday, October 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada boosted their price target on shares of Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Eyepoint Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Eyepoint Pharmaceuticals Trading Up 2.4%

NASDAQ:EYPT opened at $14.74 on Tuesday. The stock’s 50-day moving average is $12.82 and its 200-day moving average is $10.85. Eyepoint Pharmaceuticals has a 1-year low of $3.91 and a 1-year high of $14.91. The stock has a market cap of $1.22 billion, a P/E ratio of -5.50 and a beta of 1.85.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.08). Eyepoint Pharmaceuticals had a negative net margin of 337.93% and a negative return on equity of 63.80%. The business had revenue of $0.97 million during the quarter, compared to the consensus estimate of $3.33 million. As a group, equities analysts forecast that Eyepoint Pharmaceuticals will post -2.13 EPS for the current year.

Institutional Trading of Eyepoint Pharmaceuticals

Several large investors have recently made changes to their positions in EYPT. Invesco Ltd. grew its stake in Eyepoint Pharmaceuticals by 174.3% in the first quarter. Invesco Ltd. now owns 42,948 shares of the company’s stock valued at $233,000 after acquiring an additional 27,291 shares during the period. American Century Companies Inc. acquired a new position in shares of Eyepoint Pharmaceuticals during the first quarter worth approximately $232,000. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Eyepoint Pharmaceuticals by 127.8% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 73,310 shares of the company’s stock worth $397,000 after purchasing an additional 41,132 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Eyepoint Pharmaceuticals by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,834,368 shares of the company’s stock worth $20,782,000 after purchasing an additional 31,141 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in Eyepoint Pharmaceuticals in the 1st quarter valued at $180,000. 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.