EyePoint Pharmaceuticals (NASDAQ:EYPT) Now Covered by Scotiabank

Scotiabank began coverage on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a research note issued to investors on Wednesday, Briefing.com reports. The brokerage set a “sector outperform” rating on the stock.

Several other analysts have also recently commented on EYPT. HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday, June 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Thursday, June 20th. StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a research report on Saturday, September 21st. Chardan Capital reissued a “buy” rating and set a $28.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Friday, June 28th. Finally, JPMorgan Chase & Co. lowered their price objective on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.57.

EyePoint Pharmaceuticals Price Performance

EyePoint Pharmaceuticals stock opened at $9.88 on Wednesday. The stock has a market capitalization of $514.59 million, a PE ratio of -5.43 and a beta of 1.57. EyePoint Pharmaceuticals has a 12 month low of $5.67 and a 12 month high of $30.99. The business has a 50 day simple moving average of $8.55 and a 200-day simple moving average of $11.09.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.58) EPS 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 for the quarter, compared to analysts’ expectations of $11.61 million. On average, equities research analysts anticipate that EyePoint Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Several large investors have recently modified their holdings of the business. Woodstock Corp lifted its stake in shares of EyePoint Pharmaceuticals by 29.1% in the 3rd quarter. Woodstock Corp now owns 71,480 shares of the company’s stock valued at $571,000 after purchasing an additional 16,093 shares during the last quarter. Essex Investment Management Co. LLC lifted its stake in shares of EyePoint Pharmaceuticals by 234.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 142,144 shares of the company’s stock valued at $1,136,000 after purchasing an additional 99,606 shares during the last quarter. Fiera Capital Corp lifted its stake in shares of EyePoint Pharmaceuticals by 0.9% in the 2nd quarter. Fiera Capital Corp now owns 677,038 shares of the company’s stock valued at $5,890,000 after purchasing an additional 5,920 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of EyePoint Pharmaceuticals in the 2nd quarter valued at $5,488,000. Finally, Perceptive Advisors LLC lifted its stake in shares of EyePoint Pharmaceuticals by 8.6% in the 2nd quarter. Perceptive Advisors LLC now owns 640,274 shares of the company’s stock valued at $5,570,000 after purchasing an additional 50,628 shares during the last quarter. Institutional investors and hedge funds 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.