EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives Average Recommendation of “Buy” from Analysts

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have earned an average recommendation of “Buy” from the nine ratings firms that are covering the firm, MarketBeat reports. Nine investment analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $26.63.

Several research analysts have commented on the company. Robert W. Baird cut their price target on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday. Chardan Capital reaffirmed a “buy” rating and set a $33.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday. Finally, Citigroup assumed coverage on EyePoint Pharmaceuticals in a research report on Tuesday, January 7th. They set a “buy” rating and a $33.00 price target on the stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EYPT. RA Capital Management L.P. purchased a new position in shares of EyePoint Pharmaceuticals in the 4th quarter valued at approximately $23,705,000. TCG Crossover Management LLC boosted its stake in shares of EyePoint Pharmaceuticals by 287.3% in the fourth quarter. TCG Crossover Management LLC now owns 3,572,335 shares of the company’s stock valued at $26,614,000 after buying an additional 2,650,000 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of EyePoint Pharmaceuticals by 51.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,750,000 shares of the company’s stock valued at $42,838,000 after buying an additional 1,958,580 shares in the last quarter. Federated Hermes Inc. boosted its stake in shares of EyePoint Pharmaceuticals by 92.7% in the fourth quarter. Federated Hermes Inc. now owns 3,707,445 shares of the company’s stock valued at $27,620,000 after buying an additional 1,783,765 shares in the last quarter. Finally, Suvretta Capital Management LLC boosted its stake in shares of EyePoint Pharmaceuticals by 31.1% in the fourth quarter. Suvretta Capital Management LLC now owns 6,783,091 shares of the company’s stock valued at $50,534,000 after buying an additional 1,607,268 shares in the last quarter. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

EyePoint Pharmaceuticals Stock Performance

Shares of NASDAQ EYPT opened at $7.13 on Monday. EyePoint Pharmaceuticals has a fifty-two week low of $5.54 and a fifty-two week high of $26.06. The firm has a market capitalization of $486.63 million, a PE ratio of -3.57 and a beta of 1.41. The stock’s 50-day simple moving average is $7.25 and its 200-day simple moving average is $8.46.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Wednesday, March 5th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.10). The business had revenue of $11.60 million for the quarter, compared to analyst estimates of $11.02 million. EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. On average, sell-side analysts forecast that EyePoint Pharmaceuticals will post -2.13 earnings per share for the current fiscal year.

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.