Eyepoint Pharmaceuticals (NASDAQ:EYPT) Hits New 1-Year High - Here's Why

Key Points

• Eyepoint Pharmaceuticals (NASDAQ:EYPT) reached a new 52-week high of $14.91 during trading, with a last trade of $14.24 and a significant trading volume of over 2.38 million shares.
• Analysts have a consensus target price of $26.86 for the stock, with Royal Bank of Canada and Chardan Capital providing optimistic price targets of $28.00 and $27.00, respectively.
• The company's recent quarterly earnings reported a loss of ($0.85) per share, missing estimates, and revenues fell short at $5.33 million, indicating challenges despite the bullish outlook from analysts.

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

Wall Street Analysts Forecast Growth

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

Eyepoint Pharmaceuticals Stock Up 1.4%

The stock has a market cap of $981.56 million, a price-to-earnings ratio of -5.31 and a beta of 1.93. The business has a 50-day moving average of $11.92 and a 200-day moving average of $8.91.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released 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). The firm had revenue of $5.33 million for the quarter, compared to analyst estimates of $6.82 million. Eyepoint Pharmaceuticals had a negative net margin of 337.93% and a negative return on equity of 63.80%. Equities analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

Institutional Trading of Eyepoint Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in EYPT. Ameriprise Financial Inc. lifted its position in shares of Eyepoint Pharmaceuticals by 109.1% in the fourth quarter. Ameriprise Financial Inc. now owns 52,038 shares of the company's stock worth $388,000 after buying an additional 27,151 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Eyepoint Pharmaceuticals by 7.6% in the fourth quarter. Nuveen Asset Management LLC now owns 183,949 shares of the company's stock worth $1,370,000 after buying an additional 13,048 shares during the last quarter. Squarepoint Ops LLC lifted its position in shares of Eyepoint Pharmaceuticals by 83.3% in the fourth quarter. Squarepoint Ops LLC now owns 40,514 shares of the company's stock worth $302,000 after buying an additional 18,416 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Eyepoint Pharmaceuticals by 31.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 90,349 shares of the company's stock worth $673,000 after buying an additional 21,719 shares during the last quarter. Finally, California State Teachers Retirement System lifted its position in shares of Eyepoint Pharmaceuticals by 3.8% in the fourth quarter. California State Teachers Retirement System now owns 48,614 shares of the company's stock worth $362,000 after buying an additional 1,797 shares during the last quarter. Institutional investors and hedge funds own 99.41% of the company's stock.

Eyepoint Pharmaceuticals Company Profile

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.

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