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

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares shot up 7.8% on Tuesday . The stock traded as high as $14.81 and last traded at $14.7950. 557,889 shares were traded during trading, a decline of 52% from the average session volume of 1,161,993 shares. The stock had previously closed at $13.73.

Wall Street Analyst Weigh In

EYPT has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, April 21st. HC Wainwright boosted their price objective on shares of Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Chardan Capital raised their target price on shares of Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Citigroup lifted their price target on shares of Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Finally, Royal Bank Of Canada decreased their price target on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Eyepoint Pharmaceuticals currently has an average rating of “Buy” and an average price target of $31.80.

Eyepoint Pharmaceuticals Stock Up 6.3%

The company has a market cap of $1.22 billion, a price-to-earnings ratio of -4.16 and a beta of 1.72. The stock’s 50-day simple moving average is $13.26 and its 200 day simple moving average is $14.65.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.99) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.79) by ($0.20). The company had revenue of $0.70 million during the quarter, compared to analyst estimates of $0.35 million. Eyepoint Pharmaceuticals had a negative net margin of 3,566.63% and a negative return on equity of 110.54%. On average, sell-side analysts expect that Eyepoint Pharmaceuticals, Inc. will post -3.09 EPS for the current fiscal year.

Insider Buying and Selling at Eyepoint Pharmaceuticals

In other news, insider Ramiro Ribeiro sold 2,437 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $15.00, for a total value of $36,555.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.13% of the company’s stock.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. KBC Group NV acquired a new position in shares of Eyepoint Pharmaceuticals during the 1st quarter worth approximately $29,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Eyepoint Pharmaceuticals by 51.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock worth $74,000 after buying an additional 1,358 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Eyepoint Pharmaceuticals in the third quarter worth about $76,000. Tower Research Capital LLC TRC raised its holdings in Eyepoint Pharmaceuticals by 218.3% in the second quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock valued at $82,000 after acquiring an additional 5,967 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in shares of Eyepoint Pharmaceuticals by 20.6% during the fourth quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock worth $85,000 after purchasing an additional 794 shares during the period. 99.41% of the stock is owned by institutional investors and hedge funds.

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.