EyePoint Pharmaceuticals’ (EYPT) Buy Rating Reiterated at Chardan Capital

Chardan Capital reissued their buy rating on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a report published on Thursday,Benzinga reports. Chardan Capital currently has a $33.00 target price on the stock.

EYPT has been the subject of a number of other reports. Scotiabank started coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 target price for the company. Citigroup started coverage on shares of EyePoint Pharmaceuticals in a research report on Tuesday, January 7th. They set a “buy” rating and a $33.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. Finally, Robert W. Baird reduced their price objective on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.63.

EyePoint Pharmaceuticals Stock Performance

Shares of EYPT stock opened at $6.62 on Thursday. EyePoint Pharmaceuticals has a 1 year low of $6.55 and a 1 year high of $30.99. The stock’s 50 day simple moving average is $7.92 and its two-hundred day simple moving average is $8.82.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.48) by ($0.06). The business had revenue of $10.52 million during the quarter, compared to analysts’ expectations of $12.35 million. EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. As a group, sell-side analysts forecast that EyePoint Pharmaceuticals will post -2.13 EPS for the current year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of EYPT. Essex Investment Management Co. LLC grew its holdings in shares of EyePoint Pharmaceuticals by 234.2% in 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 during the period. Woodstock Corp boosted its holdings in EyePoint Pharmaceuticals by 29.1% during the 3rd quarter. Woodstock Corp now owns 71,480 shares of the company’s stock valued at $571,000 after acquiring an additional 16,093 shares during the period. Cyndeo Wealth Partners LLC acquired a new stake in shares of EyePoint Pharmaceuticals during the third quarter worth about $100,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of EyePoint Pharmaceuticals by 68.2% in the third 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. Finally, Greenwich Wealth Management LLC lifted its holdings in EyePoint Pharmaceuticals by 8.3% during the 3rd quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock worth $93,000 after buying an additional 900 shares in the last quarter. 99.41% of the stock is currently owned by institutional investors and hedge funds.

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.