Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Down 3.7% – Time to Sell?

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) fell 3.7% during trading on Monday . The stock traded as low as $12.85 and last traded at $12.90. 78,881 shares traded hands during trading, a decline of 94% from the average session volume of 1,328,051 shares. The stock had previously closed at $13.40.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Citigroup lifted their target price on shares of Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. TD Cowen upgraded Eyepoint Pharmaceuticals to a “strong-buy” rating in a report on Friday, December 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Thursday, January 22nd. Chardan Capital lifted their price target on Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Finally, HC Wainwright boosted their price objective on Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $32.20.

Eyepoint Pharmaceuticals Stock Down 2.4%

The company has a market capitalization of $1.09 billion, a PE ratio of -4.11 and a beta of 1.89. The stock’s fifty day moving average price is $14.42 and its two-hundred day moving average price is $14.52.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings results on Wednesday, March 4th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.03). Eyepoint Pharmaceuticals had a negative net margin of 739.39% and a negative return on equity of 88.31%. The business had revenue of $0.62 million for the quarter, compared to analysts’ expectations of $1.01 million. On average, equities research analysts forecast that Eyepoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Institutional Trading of Eyepoint Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Suvretta Capital Management LLC increased its position in Eyepoint Pharmaceuticals by 26.4% during the 4th quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock valued at $143,012,000 after purchasing an additional 1,634,970 shares during the period. Adage Capital Partners GP L.L.C. increased its position in shares of Eyepoint Pharmaceuticals by 9.7% during the second quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock valued at $63,988,000 after buying an additional 600,000 shares during the period. Federated Hermes Inc. raised its stake in Eyepoint Pharmaceuticals by 36.3% in the fourth quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock worth $109,938,000 after buying an additional 1,601,101 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Eyepoint Pharmaceuticals by 19.3% in the fourth quarter. Franklin Resources Inc. now owns 4,976,915 shares of the company’s stock worth $90,928,000 after buying an additional 805,031 shares during the period. Finally, Vanguard Group Inc. boosted its position in Eyepoint Pharmaceuticals by 27.1% during the 4th quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock valued at $88,100,000 after acquiring an additional 1,027,623 shares in the last quarter. Hedge funds and other institutional investors 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.