EyePoint Pharmaceuticals (NASDAQ:EYPT) Research Coverage Started at Scotiabank

Scotiabank began coverage on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a report released on Wednesday morning, Marketbeat Ratings reports. The firm issued a sector outperform rating and a $18.00 price target on the stock.

EYPT has been the topic of several other reports. Cantor Fitzgerald reissued an “overweight” rating on shares of EyePoint Pharmaceuticals in a report on Thursday, June 20th. JPMorgan Chase & Co. decreased their target price on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Chardan Capital reaffirmed a “buy” rating and issued a $28.00 price target on shares of EyePoint Pharmaceuticals in a report on Friday, June 28th. Jefferies Financial Group began coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective on the stock. Finally, StockNews.com raised shares of EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

EyePoint Pharmaceuticals Price Performance

Shares of EYPT stock opened at $11.05 on Wednesday. The stock’s fifty day simple moving average is $8.69 and its 200 day simple moving average is $11.03. EyePoint Pharmaceuticals has a one year low of $5.67 and a one year high of $30.99. The firm has a market cap of $591.40 million, a price-to-earnings ratio of -6.17 and a beta of 1.57.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.03). The firm had revenue of $9.48 million during the quarter, compared to the consensus estimate of $11.61 million. EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. On average, research analysts anticipate that EyePoint Pharmaceuticals will post -2.33 earnings per share for the current year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of EYPT. Ameritas Investment Partners Inc. lifted its stake in shares of EyePoint Pharmaceuticals by 44.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock valued at $77,000 after purchasing an additional 1,136 shares during the period. Greenwich Wealth Management LLC bought a new position in EyePoint Pharmaceuticals during the second quarter worth about $94,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of EyePoint Pharmaceuticals by 271.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock worth $95,000 after buying an additional 7,953 shares during the period. Arizona State Retirement System increased its stake in shares of EyePoint Pharmaceuticals by 9.7% in the 2nd quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $115,000 after acquiring an additional 1,171 shares during the last quarter. Finally, ProShare Advisors LLC acquired a new stake in shares of EyePoint Pharmaceuticals in the 1st quarter valued at approximately $209,000. 99.41% of the stock is owned by institutional investors.

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.