EyePoint Pharmaceuticals (NASDAQ:EYPT) Trading Up 21.2% – Here’s Why

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) traded up 21.2% during mid-day trading on Wednesday . The company traded as high as $7.44 and last traded at $7.22. 1,605,059 shares changed hands during trading, an increase of 95% from the average session volume of 821,988 shares. The stock had previously closed at $5.96.

Analysts Set New Price Targets

Several research firms have issued reports on EYPT. Mizuho dropped their target price on EyePoint Pharmaceuticals from $30.00 to $26.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. Chardan Capital dropped their price objective on EyePoint Pharmaceuticals from $33.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Wall Street Zen raised EyePoint Pharmaceuticals to a “sell” rating in a report on Friday, March 14th. Finally, HC Wainwright reiterated a “buy” rating and set a $22.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, EyePoint Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.38.

EyePoint Pharmaceuticals Stock Up 18.0%

The company’s 50-day moving average is $5.81 and its two-hundred day moving average is $7.04. The company has a market capitalization of $483.74 million, a P/E ratio of -3.52 and a beta of 1.58.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.65) EPS for the quarter, hitting analysts’ consensus estimates of ($0.65). EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. The firm had revenue of $24.50 million for the quarter, compared to analyst estimates of $8.84 million. On average, sell-side analysts predict that EyePoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the company. RA Capital Management L.P. bought a new stake in EyePoint Pharmaceuticals in the 4th quarter worth approximately $23,705,000. TCG Crossover Management LLC lifted its holdings in shares of EyePoint Pharmaceuticals by 287.3% in the 4th quarter. TCG Crossover Management LLC now owns 3,572,335 shares of the company’s stock worth $26,614,000 after acquiring an additional 2,650,000 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in shares of EyePoint Pharmaceuticals by 51.7% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,750,000 shares of the company’s stock valued at $42,838,000 after purchasing an additional 1,958,580 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of EyePoint Pharmaceuticals by 92.7% during the 4th quarter. Federated Hermes Inc. now owns 3,707,445 shares of the company’s stock valued at $27,620,000 after purchasing an additional 1,783,765 shares during the last quarter. Finally, Suvretta Capital Management LLC grew its holdings in shares of EyePoint Pharmaceuticals by 31.1% during the 4th quarter. Suvretta Capital Management LLC now owns 6,783,091 shares of the company’s stock valued at $50,534,000 after purchasing an additional 1,607,268 shares during the last quarter. Institutional investors own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Company Profile

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.