EyePoint Pharmaceuticals (NASDAQ:EYPT) Announces Earnings Results

EyePoint Pharmaceuticals (NASDAQ:EYPT) announced its quarterly earnings results on Wednesday. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.10), Zacks reports. The business had revenue of $11.60 million during the quarter, compared to the consensus estimate of $11.02 million. EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%.

EyePoint Pharmaceuticals Stock Performance

Shares of NASDAQ:EYPT opened at $6.58 on Thursday. The business has a fifty day moving average of $7.28 and a 200-day moving average of $8.48. EyePoint Pharmaceuticals has a twelve month low of $5.54 and a twelve month high of $26.76. The firm has a market cap of $449.09 million, a PE ratio of -3.29 and a beta of 1.51.

Analysts Set New Price Targets

A number of analysts recently weighed in on EYPT shares. Robert W. Baird lowered their target price on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Chardan Capital reissued a “buy” rating and issued a $33.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, February 6th. Citigroup initiated coverage on EyePoint Pharmaceuticals in a research note on Tuesday, January 7th. They issued a “buy” rating and a $33.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday, December 5th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, EyePoint Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $26.63.

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.