Eyepoint Pharmaceuticals (NASDAQ:EYPT) Reaches New 52-Week High - Here's What Happened

Key Points

• Eyepoint Pharmaceuticals' stock reached a new 52-week high at $14.37 during trading, indicating a significant price movement from its previous close of $11.88.
• Analysts have positive projections for the company, with multiple firms setting price targets between $22.00 and $28.00, and an average consensus target price of $26.86.
• The company reported quarterly earnings showing a loss greater than expected, with negative returns and net margins, yet maintains a strong interest from institutional investors, owning approximately 99.41% of the stock.

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) reached a new 52-week high on Saturday . The stock traded as high as $14.37 and last traded at $14.01, with a volume of 1915309 shares traded. The stock had previously closed at $11.88.

Analyst Ratings Changes

Several research firms have weighed in on EYPT. Chardan Capital reiterated a "buy" rating and set a $27.00 price objective on shares of Eyepoint Pharmaceuticals in a research report on Thursday, August 7th. Mizuho lowered their price objective on Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. HC Wainwright increased their price objective on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, Royal Bank Of Canada initiated coverage on Eyepoint Pharmaceuticals in a research report on Tuesday, June 17th. They set an "outperform" rating and a $28.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $26.86.

Eyepoint Pharmaceuticals Price Performance

The company has a market cap of $978.07 million, a P/E ratio of -5.29 and a beta of 1.93. The stock has a 50-day moving average of $10.80 and a 200 day moving average of $8.13.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its earnings results 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). Eyepoint Pharmaceuticals had a negative net margin of 337.93% and a negative return on equity of 63.80%. The business had revenue of $5.33 million during the quarter, compared to the consensus estimate of $6.82 million. Sell-side analysts predict that Eyepoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EYPT. Nisa Investment Advisors LLC grew its position in Eyepoint Pharmaceuticals by 1,636.5% in the second 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. GAMMA Investing LLC grew its position in Eyepoint Pharmaceuticals by 3,174.4% in the first quarter. GAMMA Investing LLC now owns 10,249 shares of the company's stock valued at $56,000 after acquiring an additional 9,936 shares during the last quarter. Raymond James Financial Inc. bought a new position in Eyepoint Pharmaceuticals in the fourth quarter valued at about $76,000. Tower Research Capital LLC TRC grew its position in Eyepoint Pharmaceuticals by 218.3% in the second quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company's stock valued at $82,000 after acquiring an additional 5,967 shares during the last quarter. Finally, Arizona State Retirement System grew its position in Eyepoint Pharmaceuticals by 12.7% in the first quarter. Arizona State Retirement System now owns 16,600 shares of the company's stock valued at $90,000 after acquiring an additional 1,877 shares during the last quarter. Institutional investors own 99.41% of the company's stock.

About Eyepoint Pharmaceuticals

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.