Eyepoint Pharmaceuticals (NASDAQ:EYPT) Announces Earnings Results, Misses Expectations By $0.08 EPS

Eyepoint Pharmaceuticals (NASDAQ:EYPT) posted its quarterly earnings results on Wednesday. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.08), Zacks reports. Eyepoint Pharmaceuticals had a negative net margin of 337.93% and a negative return on equity of 63.80%. The business had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $3.33 million.

Eyepoint Pharmaceuticals Stock Performance

Shares of NASDAQ:EYPT traded up $0.13 during trading on Friday, hitting $11.21. The company’s stock had a trading volume of 1,204,048 shares, compared to its average volume of 911,428. The company has a market capitalization of $772.67 million, a PE ratio of -4.18 and a beta of 1.85. Eyepoint Pharmaceuticals has a fifty-two week low of $3.91 and a fifty-two week high of $14.91. The stock’s 50-day moving average price is $12.83 and its two-hundred day moving average price is $10.26.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EYPT. Royal Bank Of Canada raised their target price on shares of Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Wednesday, October 8th. HC Wainwright boosted their price objective on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Chardan Capital reaffirmed a “buy” rating and issued a $27.00 target price on shares of Eyepoint Pharmaceuticals in a research report on Thursday, August 7th. Finally, Mizuho set a $28.00 price target on Eyepoint Pharmaceuticals in a research report on Monday, October 20th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Eyepoint Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $30.50.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the business. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Eyepoint Pharmaceuticals by 9.7% during the second quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock valued at $63,988,000 after acquiring an additional 600,000 shares during the period. Corient Private Wealth LLC acquired a new position in Eyepoint Pharmaceuticals during the 2nd quarter valued at about $1,200,000. Invesco Ltd. boosted its stake in Eyepoint Pharmaceuticals by 199.8% during the 2nd quarter. Invesco Ltd. now owns 128,772 shares of the company’s stock valued at $1,212,000 after purchasing an additional 85,824 shares during the period. BNP Paribas Financial Markets grew its position in Eyepoint Pharmaceuticals by 94.2% in the 2nd quarter. BNP Paribas Financial Markets now owns 172,446 shares of the company’s stock worth $1,623,000 after purchasing an additional 83,666 shares during the last quarter. Finally, Bank of America Corp DE grew its position in Eyepoint Pharmaceuticals by 8.5% in the 2nd quarter. Bank of America Corp DE now owns 814,153 shares of the company’s stock worth $7,661,000 after purchasing an additional 63,941 shares during the last quarter. 99.41% of the stock is owned by institutional investors and hedge funds.

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.