EyePoint Pharmaceuticals (NASDAQ:EYPT) Trading 6.1% Higher – Here’s What Happened

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares rose 6.1% during mid-day trading on Wednesday . The stock traded as high as $8.09 and last traded at $8.10. Approximately 150,780 shares were traded during trading, a decline of 81% from the average daily volume of 779,172 shares. The stock had previously closed at $7.63.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on EYPT. Citigroup started coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They issued a “buy” rating and a $33.00 price target on the stock. Robert W. Baird lowered their target price on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. Scotiabank assumed coverage on EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price target on the stock. Chardan Capital raised their price objective on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $22.00 target price on shares of EyePoint Pharmaceuticals in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, EyePoint Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $26.63.

EyePoint Pharmaceuticals Trading Down 3.3 %

The company has a market cap of $582.18 million, a P/E ratio of -4.27 and a beta of 1.49. The stock’s 50 day moving average is $8.17 and its 200-day moving average is $8.94.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Thursday, November 7th. The company reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.48) by ($0.06). EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. The business had revenue of $10.52 million for the quarter, compared to analysts’ expectations of $12.35 million. As a group, sell-side analysts forecast that EyePoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EYPT. China Universal Asset Management Co. Ltd. grew its stake in shares of EyePoint Pharmaceuticals by 68.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock valued at $82,000 after purchasing an additional 4,172 shares during the period. Greenwich Wealth Management LLC boosted its stake in shares of EyePoint Pharmaceuticals by 8.3% during the 3rd quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock worth $93,000 after acquiring an additional 900 shares during the last quarter. Cyndeo Wealth Partners LLC bought a new stake in shares of EyePoint Pharmaceuticals during the 3rd quarter valued at $100,000. Intech Investment Management LLC purchased a new stake in shares of EyePoint Pharmaceuticals in the 3rd quarter worth $136,000. Finally, GSA Capital Partners LLP raised its holdings in EyePoint Pharmaceuticals by 129.6% in the 3rd quarter. GSA Capital Partners LLP now owns 32,979 shares of the company’s stock worth $264,000 after purchasing an additional 18,616 shares during the period. 99.41% of the stock is owned by hedge funds and other institutional investors.

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.