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

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

Several other research firms have also recently commented on EYPT. Scotiabank assumed coverage on EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 target price for the company. Jefferies Financial Group assumed coverage on EyePoint Pharmaceuticals in a report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price objective for the company. StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. HC Wainwright reiterated a “buy” rating and issued a $30.00 price target on shares of EyePoint Pharmaceuticals in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

EyePoint Pharmaceuticals Trading Up 2.6 %

Shares of NASDAQ EYPT opened at $12.06 on Tuesday. The stock has a fifty day moving average price of $9.22 and a 200 day moving average price of $10.32. The company has a market cap of $645.45 million, a P/E 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 released 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 analysts’ expectations of $11.61 million. EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. On average, sell-side analysts forecast that EyePoint Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Institutional Trading of EyePoint Pharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Greenwich Wealth Management LLC increased its stake in 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 buying an additional 900 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of EyePoint Pharmaceuticals by 44.0% in the first quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock worth $77,000 after acquiring an additional 1,136 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of EyePoint Pharmaceuticals by 9.7% during the second quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock worth $115,000 after acquiring an additional 1,171 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in EyePoint Pharmaceuticals by 1.5% during the first quarter. Essex Investment Management Co. LLC now owns 149,819 shares of the company’s stock valued at $3,097,000 after purchasing an additional 2,278 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in EyePoint Pharmaceuticals by 26.5% in the first quarter. Janney Montgomery Scott LLC now owns 18,040 shares of the company’s stock valued at $373,000 after purchasing an additional 3,780 shares in the last quarter. 99.41% of the stock is owned by hedge funds and other institutional investors.

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.