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

Eyepoint Pharmaceuticals (NASDAQ:EYPT)‘s stock had its “buy” rating reissued by Chardan Capital in a research note issued to investors on Friday,Benzinga reports. They presently have a $65.00 target price on the stock. Chardan Capital’s target price suggests a potential upside of 406.63% from the company’s previous close.

Several other research firms also recently commented on EYPT. Guggenheim reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Eyepoint Pharmaceuticals in a report on Wednesday, June 24th. Royal Bank Of Canada decreased their price objective on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. HC Wainwright cut their target price on Eyepoint Pharmaceuticals from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday. Stifel Nicolaus began coverage on Eyepoint Pharmaceuticals in a research report on Thursday, July 16th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $44.38.

Eyepoint Pharmaceuticals Trading Up 4.7%

Shares of NASDAQ EYPT opened at $12.83 on Friday. The stock has a fifty day simple moving average of $13.10 and a two-hundred day simple moving average of $13.78. Eyepoint Pharmaceuticals has a 1-year low of $9.65 and a 1-year high of $19.11. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -3.43 and a beta of 1.76.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.13). Eyepoint Pharmaceuticals had a negative return on equity of 124.86% and a negative net margin of 10,994.73%.The firm had revenue of $0.51 million for the quarter, compared to the consensus estimate of $0.45 million. Analysts forecast that Eyepoint Pharmaceuticals will post -3.3 EPS for the current year.

Institutional Trading of Eyepoint Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in EYPT. Suvretta Capital Management LLC raised its position in Eyepoint Pharmaceuticals by 26.4% during the fourth quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock valued at $143,012,000 after purchasing an additional 1,634,970 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Eyepoint Pharmaceuticals by 9.7% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock valued at $63,988,000 after purchasing an additional 600,000 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Eyepoint Pharmaceuticals by 36.3% during the 4th quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock valued at $109,938,000 after purchasing an additional 1,601,101 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Eyepoint Pharmaceuticals by 19.3% during the 4th quarter. Franklin Resources Inc. now owns 4,976,915 shares of the company’s stock valued at $90,928,000 after buying an additional 805,031 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Eyepoint Pharmaceuticals by 27.1% in the 4th quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock worth $88,100,000 after buying an additional 1,027,623 shares during the last quarter. Hedge funds and other 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.