Eyepoint Pharmaceuticals (NASDAQ:EYPT) Trading Up 6.5% – Here’s What Happened

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares were up 6.5% on Tuesday . The stock traded as high as $12.82 and last traded at $12.8710. Approximately 915,686 shares changed hands during trading, a decline of 21% from the average daily volume of 1,164,116 shares. The stock had previously closed at $12.08.

Analysts Set New Price Targets

Several research analysts have recently weighed in on EYPT shares. Chardan Capital boosted their price objective on shares of Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Citigroup boosted their price objective on shares of Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the company a “buy” rating in a report on Monday, March 9th. 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 report on Thursday, March 5th. Royal Bank Of Canada decreased their price objective on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Eyepoint Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $31.80.

Eyepoint Pharmaceuticals Price Performance

The firm’s 50-day moving average is $13.29 and its 200-day moving average is $14.68. The company has a market capitalization of $1.09 billion, a P/E ratio of -3.70 and a beta of 1.72.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results 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 business had revenue of $0.70 million for the quarter, compared to the consensus estimate of $0.35 million. Eyepoint Pharmaceuticals had a negative net margin of 3,566.63% and a negative return on equity of 110.54%. As a group, analysts forecast that Eyepoint Pharmaceuticals, Inc. will post -3.09 EPS for the current fiscal year.

Insider Transactions at Eyepoint Pharmaceuticals

In related news, insider Ramiro Ribeiro sold 2,437 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $15.00, for a total transaction of $36,555.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.13% of the company’s stock.

Institutional Trading of Eyepoint Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. KBC Group NV bought a new position in shares of Eyepoint Pharmaceuticals in the first quarter worth approximately $29,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Eyepoint Pharmaceuticals by 51.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock worth $74,000 after purchasing an additional 1,358 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Eyepoint Pharmaceuticals in the third quarter worth approximately $76,000. Tower Research Capital LLC TRC boosted its position in shares of Eyepoint Pharmaceuticals by 218.3% in the second quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock worth $82,000 after purchasing an additional 5,967 shares during the period. Finally, California State Teachers Retirement System boosted its position in shares of Eyepoint Pharmaceuticals by 20.6% in 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 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.