Eyepoint Pharmaceuticals (NASDAQ:EYPT) Price Target Raised to $39.00

Eyepoint Pharmaceuticals (NASDAQ:EYPT) had its price objective upped by Royal Bank Of Canada from $28.00 to $39.00 in a research report sent to investors on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on EYPT. Mizuho set a $28.00 price target on shares of Eyepoint Pharmaceuticals in a research note on Monday, October 20th. HC Wainwright increased their price objective on shares of Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Chardan Capital reissued a “buy” rating and set a $27.00 target price on shares of Eyepoint Pharmaceuticals in a research note on Thursday, August 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Eyepoint Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Eyepoint Pharmaceuticals Stock Up 1.2%

Shares of Eyepoint Pharmaceuticals stock opened at $11.21 on Thursday. Eyepoint Pharmaceuticals has a twelve month low of $3.91 and a twelve month high of $14.91. The business has a 50-day moving average price of $12.83 and a 200 day moving average price of $10.28. The firm has a market cap of $772.67 million, a PE ratio of -4.18 and a beta of 1.85.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.08). Eyepoint Pharmaceuticals had a negative return on equity of 63.80% and a negative net margin of 337.93%.The business had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $3.33 million. On average, sell-side analysts expect that Eyepoint Pharmaceuticals will post -2.13 EPS for the current year.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

A number of large investors have recently made changes to their positions in EYPT. Nisa Investment Advisors LLC lifted its position in Eyepoint Pharmaceuticals by 1,636.5% during the second quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock worth $27,000 after buying an additional 2,733 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Eyepoint Pharmaceuticals in the 3rd quarter worth $50,000. Tower Research Capital LLC TRC increased its stake 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 last quarter. Arizona State Retirement System raised its holdings in shares of Eyepoint Pharmaceuticals by 12.7% during the 1st quarter. Arizona State Retirement System now owns 16,600 shares of the company’s stock worth $90,000 after acquiring an additional 1,877 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Eyepoint Pharmaceuticals during the 2nd quarter valued at about $100,000. 99.41% of the stock is currently 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.