Chardan Capital Reiterates “Buy” Rating for EyePoint Pharmaceuticals (NASDAQ:EYPT)

Chardan Capital reissued their buy rating on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a research note issued to investors on Tuesday morning, Benzinga reports. Chardan Capital currently has a $28.00 target price on the stock.

A number of other research firms have also recently issued reports on EYPT. JPMorgan Chase & Co. lowered their price objective on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. 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 objective for the company. StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a research report on Saturday, September 21st. Scotiabank assumed coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price target for the company. Finally, HC Wainwright reaffirmed a “buy” rating and set a $30.00 price objective on shares of EyePoint Pharmaceuticals in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $29.00.

EyePoint Pharmaceuticals Stock Up 2.6 %

Shares of EYPT stock opened at $12.06 on Tuesday. The stock has a 50 day moving average of $9.22 and a 200-day moving average of $10.32. The firm has a market cap of $645.45 million, a PE ratio of -6.74 and a beta of 1.57. EyePoint Pharmaceuticals has a 12 month low of $5.86 and a 12 month high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share 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 net margin of 172.29% and a negative return on equity of 43.24%. As a group, equities analysts predict that EyePoint Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Ameritas Investment Partners Inc. lifted its holdings in EyePoint Pharmaceuticals by 44.0% in the first 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. China Universal Asset Management Co. Ltd. lifted its stake 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 valued at $82,000 after purchasing an additional 4,172 shares during the period. Greenwich Wealth Management LLC boosted its position in shares of EyePoint Pharmaceuticals by 8.3% in the 3rd quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock worth $93,000 after purchasing an additional 900 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of EyePoint Pharmaceuticals by 271.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock worth $95,000 after purchasing an additional 7,953 shares during the period. Finally, Cyndeo Wealth Partners LLC bought a new stake in EyePoint Pharmaceuticals in the third quarter valued at about $100,000. Institutional investors and hedge funds 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.