Eyepoint Pharmaceuticals (NASDAQ:EYPT) Sets New 1-Year High - Time to Buy?

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) hit a new 52-week high during trading on Saturday . The stock traded as high as $14.37 and last traded at $14.01, with a volume of 1915309 shares trading hands. The stock had previously closed at $11.88.

Analyst Ratings Changes

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

Eyepoint Pharmaceuticals Trading Down 1.6%

The stock has a market capitalization of $918.80 million, a P/E ratio of -4.97 and a beta of 1.93. The business's fifty day simple moving average is $11.04 and its two-hundred day simple moving average is $8.26.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.18). The company had revenue of $5.33 million for the quarter, compared to the consensus estimate of $6.82 million. Eyepoint Pharmaceuticals had a negative return on equity of 63.80% and a negative net margin of 337.93%. On average, equities research analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

Institutional Trading of Eyepoint Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Eyepoint Pharmaceuticals in the fourth quarter valued at $76,000. The Manufacturers Life Insurance Company increased its holdings in Eyepoint Pharmaceuticals by 5.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 71,238 shares of the company's stock valued at $531,000 after buying an additional 3,657 shares during the period. Northern Trust Corp raised its stake in shares of Eyepoint Pharmaceuticals by 36.3% in the 4th quarter. Northern Trust Corp now owns 643,157 shares of the company's stock valued at $4,792,000 after buying an additional 171,374 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Eyepoint Pharmaceuticals during the 4th quarter worth about $91,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Eyepoint Pharmaceuticals by 109.1% during the 4th quarter. Ameriprise Financial Inc. now owns 52,038 shares of the company's stock worth $388,000 after acquiring an additional 27,151 shares during the period. Institutional investors and hedge funds 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.