Eyepoint Pharmaceuticals (NASDAQ:EYPT) Shares Down 4.4% - What's Next?

Key Points

• Eyepoint Pharmaceuticals shares fell 4.4% during mid-day trading, hitting a low of $13.63, significantly down from an average trading volume with only 69,953 shares traded.
• Despite the drop in stock price, analysts maintain a generally positive outlook with several upgrades, including a price target boost from HC Wainwright from $22.00 to $23.00 and a consensus average price target of $26.86.
• The company reported a larger-than-expected loss of ($0.85) earnings per share for the last quarter, missing the estimated consensus of ($0.67) by ($0.18).

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) traded down 4.4% during trading on Wednesday . The stock traded as low as $13.63 and last traded at $13.56. 69,953 shares traded hands during trading, a decline of 91% from the average session volume of 796,438 shares. The stock had previously closed at $14.19.

Analyst Ratings Changes

Several analysts have commented on the stock. Chardan Capital restated a "buy" rating and set a $27.00 price objective on shares of Eyepoint Pharmaceuticals in a research note on Thursday, August 7th. HC Wainwright boosted their target price on shares of Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Finally, Royal Bank Of Canada began coverage on shares of Eyepoint Pharmaceuticals in a research note on Tuesday, June 17th. They issued an "outperform" rating and a $28.00 target price for the company. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $26.86.

Eyepoint Pharmaceuticals Trading Up 0.4%

The company has a market cap of $924.31 million, a PE ratio of -5.00 and a beta of 1.93. The firm's fifty day moving average is $11.11 and its 200 day moving average is $8.34.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.67) by ($0.18). The company had revenue of $5.33 million during the quarter, compared to analysts' expectations of $6.82 million. Eyepoint Pharmaceuticals had a negative return on equity of 63.80% and a negative net margin of 337.93%. As a group, sell-side analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -2.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Large investors have recently modified their holdings of the business. Nisa Investment Advisors LLC grew its holdings in shares of Eyepoint Pharmaceuticals by 1,636.5% during the second quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company's stock worth $27,000 after buying an additional 2,733 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings 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 buying an additional 5,967 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 purchasing an additional 9,936 shares during the period. R Squared Ltd purchased a new stake in shares of Eyepoint Pharmaceuticals in the second quarter valued at about $100,000. Finally, Raymond James Financial Inc. grew its holdings in shares of Eyepoint Pharmaceuticals by 11.0% in the second quarter. Raymond James Financial Inc. now owns 11,900 shares of the company's stock valued at $112,000 after purchasing an additional 1,177 shares during the period. Hedge funds and other institutional investors 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.