Eyepoint Pharmaceuticals (NASDAQ:EYPT) Shares Up 7.8% – Should You Buy?

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s stock price traded up 7.8% during mid-day trading on Tuesday . The stock traded as high as $14.81 and last traded at $14.7950. 557,889 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 1,161,993 shares. The stock had previously closed at $13.73.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. HC Wainwright raised their target price on shares of Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Royal Bank Of Canada cut their price target on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Tuesday, April 21st. Guggenheim reiterated a “buy” rating and issued a $68.00 target price on shares of Eyepoint Pharmaceuticals in a report on Wednesday. Finally, Citigroup lifted their price objective on Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $37.83.

Eyepoint Pharmaceuticals Stock Performance

The firm has a market capitalization of $1.22 billion, a PE ratio of -4.15 and a beta of 1.72. The firm has a fifty day moving average of $13.26 and a 200 day moving average of $14.63.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $0.35 million. Research analysts forecast that Eyepoint Pharmaceuticals, Inc. will post -3.09 earnings per share for the current fiscal year.

Insider Activity at Eyepoint Pharmaceuticals

In other news, insider Ramiro Ribeiro sold 2,437 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $15.00, for a total value of $36,555.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.13% of the company’s stock.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KBC Group NV acquired a new position in Eyepoint Pharmaceuticals in the 1st quarter worth $29,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Eyepoint Pharmaceuticals by 51.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock valued at $74,000 after acquiring an additional 1,358 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Eyepoint Pharmaceuticals during the third quarter worth about $76,000. Tower Research Capital LLC TRC increased its position in shares of Eyepoint Pharmaceuticals by 218.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock worth $82,000 after acquiring an additional 5,967 shares during the last quarter. Finally, California State Teachers Retirement System lifted its stake in shares of Eyepoint Pharmaceuticals by 20.6% in the fourth quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock worth $85,000 after acquiring an additional 794 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.