Eyepoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 4.6% – Here’s Why

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) dropped 4.6% during trading on Friday . The company traded as low as $16.27 and last traded at $16.29. Approximately 424,970 shares were traded during trading, a decline of 51% from the average daily volume of 864,833 shares. The stock had previously closed at $17.08.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EYPT. Weiss Ratings reissued a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Wednesday, October 8th. TD Cowen upgraded shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research report on Friday, December 19th. Royal Bank Of Canada increased their target price on shares of Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Cantor Fitzgerald upgraded Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, November 25th. Finally, Mizuho set a $28.00 price target on Eyepoint Pharmaceuticals in a report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $29.25.

Eyepoint Pharmaceuticals Trading Down 5.0%

The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -5.43 and a beta of 1.63. The firm’s 50-day moving average is $15.35 and its two-hundred day moving average is $12.92.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.08). The firm had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $3.33 million. Eyepoint Pharmaceuticals had a negative return on equity of 76.13% and a negative net margin of 485.95%. On average, analysts predict that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

Insiders Place Their Bets

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 42,544 shares of Eyepoint Pharmaceuticals stock in a transaction on Monday, January 5th. The shares were 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 accessible through the SEC website. Insiders own 4.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd boosted its position in shares of Eyepoint Pharmaceuticals by 127.8% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 73,310 shares of the company’s stock worth $397,000 after purchasing an additional 41,132 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Eyepoint Pharmaceuticals during the second quarter worth $114,000. Aberdeen Group plc boosted its position in shares of Eyepoint Pharmaceuticals by 346.9% during the second quarter. Aberdeen Group plc now owns 1,031,201 shares of the company’s stock worth $9,704,000 after buying an additional 800,456 shares during the period. R Squared Ltd acquired a new stake in shares of Eyepoint Pharmaceuticals in the second quarter valued at $100,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Eyepoint Pharmaceuticals by 1,636.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock valued at $27,000 after buying an additional 2,733 shares in the last quarter. Institutional investors and hedge funds own 99.41% of the company’s stock.

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.