Chardan Capital Reaffirms Buy Rating for EyePoint Pharmaceuticals (NASDAQ:EYPT)

EyePoint Pharmaceuticals (NASDAQ:EYPT)‘s stock had its “buy” rating reaffirmed by analysts at Chardan Capital in a note issued to investors on Thursday,Benzinga reports. They presently have a $33.00 price objective on the stock. Chardan Capital’s target price indicates a potential upside of 323.08% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Citigroup began coverage on EyePoint Pharmaceuticals in a research report on Tuesday, January 7th. They set a “buy” rating and a $33.00 price objective on the stock. Robert W. Baird cut their price objective on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Scotiabank assumed coverage on EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $22.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $26.63.

EyePoint Pharmaceuticals Price Performance

Shares of EYPT opened at $7.80 on Thursday. EyePoint Pharmaceuticals has a 1 year low of $6.55 and a 1 year high of $30.99. The business has a 50-day moving average of $7.97 and a 200-day moving average of $8.84. The company has a market capitalization of $532.35 million, a price-to-earnings ratio of -3.90 and a beta of 1.51.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings data 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). EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. The business had revenue of $10.52 million during the quarter, compared to analysts’ expectations of $12.35 million. As a group, sell-side analysts anticipate that EyePoint Pharmaceuticals will post -2.13 EPS for the current year.

Institutional Trading of EyePoint Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. raised its holdings in EyePoint Pharmaceuticals by 68.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock valued at $82,000 after buying an additional 4,172 shares during the period. Greenwich Wealth Management LLC raised its stake in EyePoint Pharmaceuticals by 8.3% in the third 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 in the last quarter. Cyndeo Wealth Partners LLC purchased a new position in EyePoint Pharmaceuticals in the third quarter valued at approximately $100,000. Intech Investment Management LLC acquired a new position in EyePoint Pharmaceuticals in the third quarter valued at $136,000. Finally, Deltec Asset Management LLC purchased a new stake in EyePoint Pharmaceuticals in the fourth quarter valued at approximately $151,000. Hedge funds and other institutional investors own 99.41% of the company’s stock.

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.