Eyepoint Pharmaceuticals (NASDAQ:EYPT) Hits New 52-Week High – Should You Buy?

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $14.91 and last traded at $14.24, with a volume of 2382424 shares trading hands. The stock had previously closed at $14.05.

Analysts Set New Price Targets

EYPT has been the topic of a number of analyst reports. Royal Bank Of Canada assumed coverage on shares of Eyepoint Pharmaceuticals in a report on Tuesday, June 17th. They set an “outperform” rating and a $28.00 target price on the stock. Chardan Capital reaffirmed a “buy” rating and issued a $27.00 price target on shares of Eyepoint Pharmaceuticals in a report on Thursday, August 7th. Finally, HC Wainwright increased their price objective on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $26.86.

Eyepoint Pharmaceuticals Stock Performance

The stock’s 50 day simple moving average is $12.02 and its 200 day simple moving average is $8.98. The firm has a market cap of $930.51 million, a PE ratio of -5.04 and a beta of 1.95.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.18). Eyepoint Pharmaceuticals had a negative return on equity of 63.80% and a negative net margin of 337.93%.The company had revenue of $5.33 million for the quarter, compared to the consensus estimate of $6.82 million. As a group, analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC raised its stake in shares of Eyepoint Pharmaceuticals by 1,636.5% during the second quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock worth $27,000 after acquiring an additional 2,733 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Eyepoint Pharmaceuticals by 218.3% in the 2nd 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. GAMMA Investing LLC raised its position in Eyepoint Pharmaceuticals by 3,174.4% in the 1st quarter. GAMMA Investing LLC now owns 10,249 shares of the company’s stock worth $56,000 after purchasing an additional 9,936 shares during the period. R Squared Ltd purchased a new position in Eyepoint Pharmaceuticals in the 2nd quarter worth $100,000. Finally, Raymond James Financial Inc. raised its position in Eyepoint Pharmaceuticals by 11.0% in the 2nd quarter. Raymond James Financial Inc. now owns 11,900 shares of the company’s stock worth $112,000 after purchasing an additional 1,177 shares during the period. 99.41% of the stock is owned by hedge funds and other institutional investors.

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.