EyePoint Pharmaceuticals (NASDAQ:EYPT) Trading 6.1% Higher – Should You Buy?

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) traded up 6.1% on Wednesday . The stock traded as high as $8.09 and last traded at $8.10. Approximately 150,780 shares changed hands 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 Analyst Weigh In

Several equities research analysts have commented on the stock. Scotiabank initiated coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price objective on the stock. Chardan Capital raised their target price on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. Robert W. Baird cut their price target on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Finally, Citigroup initiated 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. One 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.63.

EyePoint Pharmaceuticals Price Performance

The firm has a market cap of $566.82 million, a PE ratio of -4.15 and a beta of 1.49. The company has a 50 day simple moving average of $8.24 and a 200-day simple moving average of $8.95.

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

Institutional Trading of EyePoint Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. raised its holdings in 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 buying an additional 4,172 shares during the last quarter. Greenwich Wealth Management LLC boosted its holdings in shares of EyePoint Pharmaceuticals by 8.3% during the third quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock worth $93,000 after purchasing an additional 900 shares during the period. Cyndeo Wealth Partners LLC bought a new stake in shares of EyePoint Pharmaceuticals in the third quarter worth about $100,000. Intech Investment Management LLC purchased a new position in EyePoint Pharmaceuticals during the 3rd quarter valued at about $136,000. Finally, GSA Capital Partners LLP lifted 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 buying an additional 18,616 shares during the period. Institutional investors own 99.41% of the company’s stock.

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.