HC Wainwright Reaffirms Buy Rating for EyePoint Pharmaceuticals (NASDAQ:EYPT)

HC Wainwright restated their buy rating on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a research note released on Friday morning, Benzinga reports. The brokerage currently has a $30.00 target price on the stock.

A number of other research analysts also recently commented on the stock. Jefferies Financial Group began coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price objective for the company. Chardan Capital reissued a “buy” rating and issued a $28.00 price objective on shares of EyePoint Pharmaceuticals in a report on Friday, June 28th. Scotiabank initiated coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Finally, StockNews.com raised shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

EyePoint Pharmaceuticals Trading Down 0.6 %

NASDAQ EYPT opened at $9.50 on Friday. The firm has a market cap of $494.80 million, a price-to-earnings ratio of -5.22 and a beta of 1.57. The company has a 50 day moving average of $8.90 and a 200-day moving average of $10.52. EyePoint Pharmaceuticals has a 1-year low of $5.67 and a 1-year high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted 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 firm had revenue of $9.48 million during the quarter, compared to analyst estimates of $11.61 million. On average, analysts forecast that EyePoint Pharmaceuticals will post -2.33 earnings per share for the current year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of EyePoint Pharmaceuticals by 17.8% in the first quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock valued at $49,530,000 after acquiring an additional 362,168 shares during the period. RA Capital Management L.P. purchased a new stake in EyePoint Pharmaceuticals in the first quarter worth approximately $19,401,000. Deerfield Management Company L.P. Series C raised its position in EyePoint Pharmaceuticals by 51.4% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock worth $7,637,000 after purchasing an additional 298,196 shares during the period. Fiera Capital Corp increased its holdings in shares of EyePoint Pharmaceuticals by 0.9% in the second quarter. Fiera Capital Corp now owns 677,038 shares of the company’s stock worth $5,890,000 after buying an additional 5,920 shares during the period. Finally, Perceptive Advisors LLC grew its holdings in shares of EyePoint Pharmaceuticals by 8.6% in the second quarter. Perceptive Advisors LLC now owns 640,274 shares of the company’s stock worth $5,570,000 after purchasing an additional 50,628 shares during the last quarter. 99.41% of the stock is currently owned by 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.