Eyepoint Pharmaceuticals (NASDAQ:EYPT) Shares Down 9.1% – Here’s Why

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s stock price dropped 9.1% during mid-day trading on Thursday . The company traded as low as $13.61 and last traded at $13.5560. Approximately 488,567 shares traded hands during trading, a decline of 66% from the average daily volume of 1,426,034 shares. The stock had previously closed at $14.92.

Wall Street Analyst Weigh In

A number of research firms have issued reports on EYPT. TD Cowen raised shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a report on Friday, December 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Thursday, January 22nd. HC Wainwright increased their price target on Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Cantor Fitzgerald upgraded Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, November 25th. Finally, Chardan Capital lifted their price objective on Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Eyepoint Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $32.20.

Eyepoint Pharmaceuticals Stock Down 6.4%

The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -4.40 and a beta of 1.72. The firm has a 50 day moving average of $15.49 and a two-hundred day moving average of $14.45.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Wednesday, March 4th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.03). The company had revenue of $0.62 million during the quarter, compared to analyst estimates of $1.01 million. Eyepoint Pharmaceuticals had a negative net margin of 739.39% and a negative return on equity of 88.31%. Sell-side analysts forecast that Eyepoint Pharmaceuticals, Inc. will post -2.13 EPS for the current fiscal year.

Insider Activity

In other news, insider Ramiro Ribeiro sold 42,544 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $17.10, for a total value of $727,502.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.46% of the company’s stock.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Several large investors have recently bought and sold shares of EYPT. Janus Henderson Group PLC acquired a new position in shares of Eyepoint Pharmaceuticals in the fourth quarter valued at approximately $53,658,000. Paradigm Biocapital Advisors LP purchased a new position in Eyepoint Pharmaceuticals during the 3rd quarter worth $28,556,000. Orbimed Advisors LLC bought a new position in Eyepoint Pharmaceuticals during the third quarter valued at about $25,575,000. Suvretta Capital Management LLC lifted its position in Eyepoint Pharmaceuticals by 26.4% in the 4th quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock worth $143,012,000 after buying an additional 1,634,970 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in Eyepoint Pharmaceuticals by 36.3% in the 4th quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock worth $109,938,000 after purchasing an additional 1,601,101 shares during the period. 99.41% of the stock is currently owned by institutional investors.

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.