Eyepoint Pharmaceuticals (NASDAQ:EYPT) Trading Up 7.8% – Here’s What Happened

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s share price was up 7.8% on Thursday . The stock traded as high as $13.68 and last traded at $13.2950. Approximately 356,344 shares changed hands during trading, a decline of 65% from the average daily volume of 1,014,223 shares. The stock had previously closed at $12.33.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Mizuho set a $28.00 price objective on shares of Eyepoint Pharmaceuticals in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Thursday, January 22nd. TD Cowen raised Eyepoint Pharmaceuticals to a “strong-buy” rating in a research report on Friday, December 19th. Royal Bank Of Canada upped their price objective on Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Finally, Cantor Fitzgerald upgraded Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $29.25.

Eyepoint Pharmaceuticals Trading Up 4.5%

The stock has a market cap of $1.10 billion, a PE ratio of -4.45 and a beta of 1.76. The business has a 50-day moving average price of $16.15 and a 200 day moving average price of $13.63.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data 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). The firm had revenue of $0.97 million during the quarter, compared to the consensus estimate of $3.33 million. Eyepoint Pharmaceuticals had a negative net margin of 485.95% and a negative return on equity of 76.13%. On average, equities analysts predict that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

Insider Activity

In related news, insider Ramiro Ribeiro sold 42,544 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $17.10, for a total transaction of $727,502.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.46% of the company’s stock.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of EYPT. Legato Capital Management LLC grew its stake in Eyepoint Pharmaceuticals by 9.3% during the fourth quarter. Legato Capital Management LLC now owns 40,431 shares of the company’s stock valued at $739,000 after acquiring an additional 3,426 shares in the last quarter. PSP Research LLC purchased a new position in shares of Eyepoint Pharmaceuticals during the 4th quarter valued at $540,000. ProShare Advisors LLC grew its position in shares of Eyepoint Pharmaceuticals by 39.7% during the 4th quarter. ProShare Advisors LLC now owns 17,443 shares of the company’s stock valued at $319,000 after purchasing an additional 4,953 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Eyepoint Pharmaceuticals in the fourth quarter worth $197,000. Finally, Vanguard Group Inc. raised its position in shares of Eyepoint Pharmaceuticals by 27.1% in the fourth 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 in the last quarter. 99.41% of the stock is owned by hedge funds and other institutional investors.

Eyepoint Pharmaceuticals Company Profile

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.