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

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have received a consensus recommendation of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $29.00.

A number of brokerages have issued reports on EYPT. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of EyePoint Pharmaceuticals in a research note on Friday, October 25th. Jefferies Financial Group assumed coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target on the stock. Scotiabank assumed coverage on EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price objective on the stock. Chardan Capital restated a “buy” rating and set a $28.00 target price on shares of EyePoint Pharmaceuticals in a research report on Tuesday, October 29th. Finally, StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a research report on Saturday, September 21st.

EyePoint Pharmaceuticals Stock Down 3.0 %

NASDAQ:EYPT opened at $11.70 on Tuesday. EyePoint Pharmaceuticals has a fifty-two week low of $5.86 and a fifty-two week high of $30.99. The firm’s 50 day moving average is $9.22 and its two-hundred day moving average is $10.16.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released 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). EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. The company had revenue of $9.48 million during the quarter, compared to the consensus estimate of $11.61 million. On average, analysts forecast that EyePoint Pharmaceuticals will post -2.33 EPS for the current year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Greenwich Wealth Management LLC grew its holdings 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 valued at $93,000 after acquiring an additional 900 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in 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 acquiring an additional 4,172 shares during the period. Cyndeo Wealth Partners LLC acquired a new position in shares of EyePoint Pharmaceuticals in the 3rd quarter worth approximately $100,000. Woodstock Corp boosted its holdings in shares of EyePoint Pharmaceuticals by 29.1% during the 3rd quarter. Woodstock Corp now owns 71,480 shares of the company’s stock worth $571,000 after buying an additional 16,093 shares in the last quarter. Finally, Essex Investment Management Co. LLC grew its position in EyePoint Pharmaceuticals by 234.2% in the 3rd 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 during the period. Institutional investors own 99.41% of the company’s stock.

About EyePoint Pharmaceuticals

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.