Analysts Set EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Target Price at $29.00

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has earned an average recommendation of “Buy” from the nine research firms that are currently covering the stock, MarketBeat reports. Nine research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $29.00.

EYPT has been the topic of several research analyst reports. Jefferies Financial Group began coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target on the stock. JPMorgan Chase & Co. cut their price target on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. Scotiabank started coverage on EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 target price for the company. Finally, HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of EyePoint Pharmaceuticals in a research report on Friday, October 25th.

EyePoint Pharmaceuticals Trading Up 2.6 %

NASDAQ EYPT opened at $11.76 on Tuesday. EyePoint Pharmaceuticals has a 12 month low of $5.74 and a 12 month high of $30.99. The stock has a market cap of $629.37 million, a price-to-earnings ratio of -6.57 and a beta of 1.57. The company’s 50 day moving average is $9.11 and its two-hundred day moving average is $10.37.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. The business had revenue of $9.48 million during the quarter, compared to analysts’ expectations of $11.61 million. Sell-side analysts forecast that EyePoint Pharmaceuticals will post -2.33 EPS for the current year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in EYPT. Essex Investment Management Co. LLC boosted its stake in shares of EyePoint Pharmaceuticals by 234.2% during the third quarter. Essex Investment Management Co. LLC now owns 142,144 shares of the company’s stock valued at $1,136,000 after purchasing an additional 99,606 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its position in EyePoint Pharmaceuticals by 51.4% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock valued at $7,637,000 after acquiring an additional 298,196 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of EyePoint Pharmaceuticals by 842.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock valued at $4,143,000 after acquiring an additional 425,717 shares during the period. Janney Montgomery Scott LLC increased its holdings 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 valued at $373,000 after acquiring an additional 3,780 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of EyePoint Pharmaceuticals by 112.5% in the 2nd quarter. Renaissance Technologies LLC now owns 152,800 shares of the company’s stock worth $1,329,000 after acquiring an additional 80,900 shares in the last quarter. 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.