Eyepoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 5.3% – Here’s What Happened

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares traded down 5.3% during mid-day trading on Tuesday . The company traded as low as $11.61 and last traded at $11.7650. 1,467,120 shares traded hands during mid-day trading, an increase of 17% from the average session volume of 1,254,539 shares. The stock had previously closed at $12.42.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on EYPT shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Friday, July 17th. Chardan Capital increased their price objective on Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Royal Bank Of Canada decreased their price objective on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Stifel Nicolaus began coverage on Eyepoint Pharmaceuticals in a research note on Thursday, July 16th. They set a “buy” rating and a $40.00 target price on the stock. Finally, Cantor Fitzgerald initiated coverage on Eyepoint Pharmaceuticals in a report on Wednesday, July 8th. They issued an “overweight” rating and a $47.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.75.

Eyepoint Pharmaceuticals Stock Performance

The business’s 50 day simple moving average is $13.17 and its 200-day simple moving average is $13.85. The company has a market cap of $978.41 million, a price-to-earnings ratio of -3.33 and a beta of 1.76.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.20). Eyepoint Pharmaceuticals had a negative return on equity of 110.54% and a negative net margin of 3,566.63%.The company had revenue of $0.70 million during the quarter, compared to analyst estimates of $0.35 million. Research analysts expect that Eyepoint Pharmaceuticals, Inc. will post -3.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EYPT. Stempoint Capital LP raised its stake in shares of Eyepoint Pharmaceuticals by 129.1% during the 1st quarter. Stempoint Capital LP now owns 810,764 shares of the company’s stock worth $10,451,000 after purchasing an additional 456,915 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Eyepoint Pharmaceuticals by 22.6% in the 1st quarter. Janus Henderson Group PLC now owns 3,601,168 shares of the company’s stock valued at $46,419,000 after buying an additional 663,439 shares in the last quarter. California State Teachers Retirement System increased its holdings in Eyepoint Pharmaceuticals by 2,158.3% in the first quarter. California State Teachers Retirement System now owns 105,101 shares of the company’s stock worth $1,355,000 after buying an additional 100,447 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Eyepoint Pharmaceuticals by 58.4% in the first quarter. The Manufacturers Life Insurance Company now owns 36,072 shares of the company’s stock worth $465,000 after buying an additional 13,297 shares during the last quarter. Finally, Commodore Capital LP acquired a new position in Eyepoint Pharmaceuticals in the first quarter worth approximately $36,414,000. 99.41% of the stock is owned by institutional investors and hedge funds.

Eyepoint Pharmaceuticals Company Profile

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.