Eyepoint Pharmaceuticals (NASDAQ:EYPT) Trading 7.8% Higher – Here’s Why

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) traded up 7.8% on Thursday . The stock traded as high as $13.68 and last traded at $13.2950. 356,344 shares were traded during trading, a decline of 65% from the average session volume of 1,014,223 shares. The stock had previously closed at $12.33.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EYPT. Mizuho set a $28.00 target price on Eyepoint Pharmaceuticals in a research report on Monday, October 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Thursday, January 22nd. Cantor Fitzgerald upgraded Eyepoint Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, November 25th. TD Cowen upgraded Eyepoint Pharmaceuticals to a “strong-buy” rating in a report on Friday, December 19th. Finally, Royal Bank Of Canada raised their price target on shares of Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $29.25.

Eyepoint Pharmaceuticals Trading Up 7.7%

The company has a fifty day moving average price of $16.22 and a 200-day moving average price of $13.61. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -4.45 and a beta of 1.76.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.77) by ($0.08). The business had revenue of $0.97 million for the quarter, compared to the consensus estimate of $3.33 million. Eyepoint Pharmaceuticals had a negative net margin of 485.95% and a negative return on equity of 76.13%. As a group, sell-side analysts predict that Eyepoint Pharmaceuticals, Inc. will post -2.13 EPS for the current fiscal year.

Insider Buying and Selling at Eyepoint Pharmaceuticals

In related news, insider Ramiro Ribeiro sold 42,544 shares of Eyepoint Pharmaceuticals stock in a transaction on Monday, January 5th. The shares were sold at an average price of $17.10, for a total value of $727,502.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.46% of the company’s stock.

Institutional Trading of Eyepoint Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC increased its holdings in shares of Eyepoint Pharmaceuticals by 1,636.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock valued at $27,000 after acquiring an additional 2,733 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Eyepoint Pharmaceuticals during the third quarter valued at approximately $50,000. Mirae Asset Global Investments Co. Ltd. raised 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 valued at $74,000 after purchasing an additional 1,358 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Eyepoint Pharmaceuticals in the third quarter worth $76,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Eyepoint Pharmaceuticals by 218.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock worth $82,000 after buying an additional 5,967 shares during the period. Institutional investors and hedge funds own 99.41% of the company’s stock.

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.