Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Stock Has Average Price Target of $25.70 According to Analysts

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has been given an average recommendation of “Hold” by the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $25.70.

A number of brokerages have commented on EYPT. Citigroup cut their price target on shares of Eyepoint Pharmaceuticals to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, August 18th. Guggenheim reissued a “buy” rating and issued a $68.00 price objective on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, June 24th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Eyepoint Pharmaceuticals in a research note on Monday, August 17th. Jefferies Financial Group cut their target price on Eyepoint Pharmaceuticals to $8.00 and set a “buy” rating on the stock in a research report on Monday, August 17th. Finally, TD Cowen lowered Eyepoint Pharmaceuticals from a “buy” rating to a “hold” rating and cut their target price for the company from $20.00 to $4.00 in a research report on Wednesday, September 2nd.

Eyepoint Pharmaceuticals Stock Performance

Shares of NASDAQ EYPT opened at $3.23 on Tuesday. The company has a market capitalization of $278.46 million, a P/E ratio of -0.86 and a beta of 1.67. Eyepoint Pharmaceuticals has a 52-week low of $3.23 and a 52-week high of $19.11. The company’s 50 day moving average price is $7.05 and its 200-day moving average price is $11.15.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.08). Eyepoint Pharmaceuticals had a negative return on equity of 135.81% and a negative net margin of 10,994.73%.The firm had revenue of $0.51 million for the quarter, compared to analyst estimates of $0.45 million. Analysts forecast that Eyepoint Pharmaceuticals will post -3.51 earnings per share for the current year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP acquired a new stake in shares of Eyepoint Pharmaceuticals during the 2nd quarter worth approximately $161,000. Integrated Wealth Concepts LLC acquired a new position in shares of Eyepoint Pharmaceuticals during the 2nd quarter valued at $72,000. Squarepoint Ops LLC lifted its position in shares of Eyepoint Pharmaceuticals by 22.3% during the 2nd quarter. Squarepoint Ops LLC now owns 98,002 shares of the company’s stock valued at $1,401,000 after acquiring an additional 17,883 shares during the period. Baird Financial Group Inc. boosted its stake in Eyepoint Pharmaceuticals by 16.4% during the second quarter. Baird Financial Group Inc. now owns 32,732 shares of the company’s stock worth $468,000 after acquiring an additional 4,613 shares in the last quarter. Finally, Principia Wealth Advisory LLC boosted its stake in Eyepoint Pharmaceuticals by 2.6% during the second quarter. Principia Wealth Advisory LLC now owns 649,944 shares of the company’s stock worth $9,294,000 after acquiring an additional 16,180 shares in the last quarter. 99.41% of the stock is owned by institutional investors and hedge funds.

About Eyepoint Pharmaceuticals

EyePoint Pharmaceuticals, Inc is a commercial-stage biotechnology company focused on developing and delivering treatments for serious eye diseases. The company’s proprietary technology is designed to provide sustained, localized release of pharmaceutical compounds within the eye, with the goal of reducing treatment frequency and improving outcomes for patients and physicians.

EyePoint’s commercial products include YUTIQ, an injectable fluocinolone acetonide implant for the treatment of chronic noninfectious uveitis affecting the posterior segment of the eye, and DEXYCU, a sustained-release dexamethasone intraocular suspension used to treat inflammation following ophthalmic surgery.