Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPTGet Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.03 and traded as high as $10.02. Eyepoint Pharmaceuticals shares last traded at $9.83, with a volume of 332,554 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on EYPT. Chardan Capital decreased their price target on Eyepoint Pharmaceuticals from $33.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. HC Wainwright restated a “buy” rating and set a $22.00 price target on shares of Eyepoint Pharmaceuticals in a report on Thursday, May 29th. Wall Street Zen upgraded shares of Eyepoint Pharmaceuticals to a “sell” rating in a research report on Friday, March 14th. Royal Bank Of Canada started coverage on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, June 17th. They set an “outperform” rating and a $28.00 price objective on the stock. Finally, Mizuho cut their target price on shares of Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an “outperform” rating on the stock in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Eyepoint Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $25.67.

View Our Latest Research Report on Eyepoint Pharmaceuticals

Eyepoint Pharmaceuticals Trading Up 1.8%

The business’s 50-day simple moving average is $7.67 and its 200-day simple moving average is $7.03. The company has a market cap of $676.68 million, a PE ratio of -4.08 and a beta of 1.67.

Eyepoint Pharmaceuticals (NASDAQ:EYPTGet Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.65) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.65). Eyepoint Pharmaceuticals had a negative net margin of 261.91% and a negative return on equity of 54.27%. The business had revenue of $24.50 million for the quarter, compared to the consensus estimate of $8.84 million. On average, research analysts predict that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EYPT. Rhumbline Advisers lifted its holdings in shares of Eyepoint Pharmaceuticals by 16.1% during the 4th quarter. Rhumbline Advisers now owns 89,560 shares of the company’s stock valued at $667,000 after buying an additional 12,443 shares during the last quarter. Bank of New York Mellon Corp raised its position in Eyepoint Pharmaceuticals by 22.2% during the fourth quarter. Bank of New York Mellon Corp now owns 204,260 shares of the company’s stock valued at $1,522,000 after acquiring an additional 37,054 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Eyepoint Pharmaceuticals by 33.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 191,165 shares of the company’s stock valued at $1,424,000 after acquiring an additional 48,402 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Eyepoint Pharmaceuticals in the fourth quarter valued at approximately $76,000. Finally, AlphaQuest LLC grew its position in Eyepoint Pharmaceuticals by 13,246.6% in the fourth quarter. AlphaQuest LLC now owns 9,743 shares of the company’s stock worth $73,000 after acquiring an additional 9,670 shares in the last quarter. 99.41% of the stock is owned by institutional investors and hedge funds.

Eyepoint Pharmaceuticals Company Profile

(Get Free Report)

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.

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