Eyepoint Pharmaceuticals’ (EYPT) Buy Rating Reaffirmed at Chardan Capital

Chardan Capital restated their buy rating on shares of Eyepoint Pharmaceuticals (NASDAQ:EYPT) in a report released on Friday,Benzinga reports. They currently have a $65.00 price objective on the stock.

A number of other equities analysts have also commented on EYPT. Guggenheim reiterated a “buy” rating and issued a $68.00 price objective on shares of Eyepoint Pharmaceuticals in a research note on Wednesday, June 24th. Stifel Nicolaus initiated coverage on Eyepoint Pharmaceuticals in a report on Thursday, July 16th. They issued a “buy” rating and a $40.00 target price on the stock. Cantor Fitzgerald raised their target price on Eyepoint Pharmaceuticals from $47.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday. HC Wainwright dropped their price target on Eyepoint Pharmaceuticals from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Royal Bank Of Canada cut their price target on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.38.

Eyepoint Pharmaceuticals Trading Up 8.3%

NASDAQ:EYPT opened at $13.89 on Friday. The firm has a market capitalization of $1.16 billion, a PE ratio of -3.71 and a beta of 1.76. Eyepoint Pharmaceuticals has a 1 year low of $9.65 and a 1 year high of $19.11. The firm’s fifty day simple moving average is $13.11 and its 200 day simple moving average is $13.78.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results on Wednesday, August 5th. The company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.08). Eyepoint Pharmaceuticals had a negative return on equity of 135.81% and a negative net margin of 10,994.73%.The firm had revenue of $0.51 million for the quarter, compared to analyst estimates of $0.45 million. As a group, analysts anticipate that Eyepoint Pharmaceuticals will post -3.32 EPS for the current fiscal year.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Several hedge funds have recently made changes to their positions in the stock. KBC Group NV acquired a new stake in Eyepoint Pharmaceuticals during the first quarter worth about $29,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Eyepoint Pharmaceuticals by 51.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock valued at $74,000 after acquiring an additional 1,358 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Eyepoint Pharmaceuticals in the 3rd quarter valued at approximately $76,000. Tower Research Capital LLC TRC lifted its position in shares of Eyepoint Pharmaceuticals by 218.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock worth $82,000 after acquiring an additional 5,967 shares during the period. Finally, California State Teachers Retirement System lifted its position in shares of Eyepoint Pharmaceuticals by 20.6% in the 4th quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock worth $85,000 after acquiring an additional 794 shares during the period. Institutional investors own 99.41% of the company’s stock.

About Eyepoint Pharmaceuticals

Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company’s proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint’s commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.

Eyepoint’s lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.