Eyepoint Pharmaceuticals (NASDAQ:EYPT) Shares Pass Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Eyepoint Pharmaceuticals shares have surged, trading above their 200-day moving average of $7.62, reaching a high of $11.52, indicating positive market momentum.
• Multiple analysts have given the stock a consensus rating of "Buy" with an average price target of $25.38, highlighting growing confidence in the company's prospects.
• The company recently reported a quarterly loss of ($0.85) EPS which was worse than expectations, alongside revenues of $5.33 million, missing analysts' forecasts.

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.62 and traded as high as $11.52. Eyepoint Pharmaceuticals shares last traded at $11.51, with a volume of 1,112,378 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. HC Wainwright boosted their target price on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Mizuho decreased their target price on shares of Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Chardan Capital restated a "buy" rating and set a $27.00 target price on shares of Eyepoint Pharmaceuticals in a research report on Thursday, August 7th. Finally, 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 price target on the stock. Eight research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Eyepoint Pharmaceuticals currently has a consensus rating of "Buy" and a consensus price target of $25.38.

Eyepoint Pharmaceuticals Price Performance

The firm has a 50-day simple moving average of $10.16 and a two-hundred day simple moving average of $7.68. The company has a market cap of $815.44 million, a PE ratio of -4.41 and a beta of 1.73.

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). The firm had revenue of $5.33 million during the quarter, compared to analysts' expectations of $6.82 million. Eyepoint Pharmaceuticals had a negative net margin of 337.93% and a negative return on equity of 63.80%. Equities research analysts forecast that Eyepoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EYPT. RA Capital Management L.P. acquired a new stake in shares of Eyepoint Pharmaceuticals during the fourth quarter worth $23,705,000. TCG Crossover Management LLC boosted its holdings in shares of Eyepoint Pharmaceuticals by 287.3% during the fourth quarter. TCG Crossover Management LLC now owns 3,572,335 shares of the company's stock worth $26,614,000 after purchasing an additional 2,650,000 shares during the last quarter. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Eyepoint Pharmaceuticals by 51.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,750,000 shares of the company's stock worth $42,838,000 after purchasing an additional 1,958,580 shares during the last quarter. Suvretta Capital Management LLC boosted its holdings in Eyepoint Pharmaceuticals by 31.1% in the fourth quarter. Suvretta Capital Management LLC now owns 6,783,091 shares of the company's stock valued at $50,534,000 after acquiring an additional 1,607,268 shares during the last quarter. Finally, Aberdeen Group plc boosted its holdings in Eyepoint Pharmaceuticals by 346.9% in the second quarter. Aberdeen Group plc now owns 1,031,201 shares of the company's stock valued at $9,704,000 after acquiring an additional 800,456 shares during the last quarter. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

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.