HC Wainwright Reaffirms Buy Rating for EyePoint Pharmaceuticals (NASDAQ:EYPT)

HC Wainwright restated their buy rating on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a report issued on Friday morning, Benzinga reports. The brokerage currently has a $30.00 target price on the stock.

Several other research firms have also commented on EYPT. 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 target price on the stock. StockNews.com raised shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. JPMorgan Chase & Co. reduced their target price on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Scotiabank began coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 target price on the stock. Finally, Chardan Capital reaffirmed a “buy” rating and set a $28.00 target price on shares of EyePoint Pharmaceuticals in a report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $29.00.

EyePoint Pharmaceuticals Price Performance

Shares of NASDAQ:EYPT opened at $12.12 on Friday. The company’s fifty day moving average price is $8.98 and its 200-day moving average price is $10.44. The firm has a market capitalization of $648.66 million, a price-to-earnings ratio of -6.77 and a beta of 1.57. EyePoint Pharmaceuticals has a one year low of $5.67 and a one year high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). The company 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%. As a group, equities research analysts expect that EyePoint Pharmaceuticals will post -2.33 EPS for the current year.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. boosted its position in EyePoint Pharmaceuticals by 44.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock valued at $77,000 after buying an additional 1,136 shares during the period. Arizona State Retirement System lifted its position 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 worth $115,000 after purchasing an additional 1,171 shares during the period. Essex Investment Management Co. LLC lifted its position in shares of EyePoint Pharmaceuticals by 1.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 149,819 shares of the company’s stock worth $3,097,000 after purchasing an additional 2,278 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of EyePoint Pharmaceuticals by 26.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,040 shares of the company’s stock worth $373,000 after purchasing an additional 3,780 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of EyePoint Pharmaceuticals by 68.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock worth $82,000 after purchasing an additional 4,172 shares during the period. Hedge funds and other 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.