Eyepoint Pharmaceuticals (NASDAQ:EYPT) Share Price Passes Above 200 Day Moving Average - Time to 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.

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) passed 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.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Chardan Capital reaffirmed a "buy" rating and issued a $27.00 price target on shares of Eyepoint Pharmaceuticals in a research note on Thursday, August 7th. Royal Bank Of Canada assumed coverage on Eyepoint Pharmaceuticals in a research note on Tuesday, June 17th. They issued an "outperform" rating and a $28.00 target price on the stock. HC Wainwright increased their target price on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Mizuho cut their target price on Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating on the stock in a research note on Friday, May 16th. Eight equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Eyepoint Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $25.38.

Eyepoint Pharmaceuticals Stock Up 3.9%

The stock has a market capitalization of $829.92 million, a P/E ratio of -4.49 and a beta of 1.73. The business has a fifty day moving average price of $10.28 and a 200-day moving average price of $7.75.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last announced its quarterly 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 business had revenue of $5.33 million for the quarter, compared to the consensus estimate of $6.82 million. Eyepoint Pharmaceuticals had a negative net margin of 337.93% and a negative return on equity of 63.80%. On average, equities analysts expect that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC lifted 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 valued at $82,000 after purchasing an additional 5,967 shares in the last quarter. Corient Private Wealth LLC bought a new position in shares of Eyepoint Pharmaceuticals during the second quarter valued at $1,200,000. Man Group plc lifted its holdings in Eyepoint Pharmaceuticals by 400.9% in the second quarter. Man Group plc now owns 72,682 shares of the company's stock valued at $684,000 after acquiring an additional 58,173 shares during the period. BNP Paribas Financial Markets lifted its holdings in Eyepoint Pharmaceuticals by 94.2% in the second quarter. BNP Paribas Financial Markets now owns 172,446 shares of the company's stock valued at $1,623,000 after acquiring an additional 83,666 shares during the period. Finally, Bank of America Corp DE lifted its holdings in Eyepoint Pharmaceuticals by 8.5% in the second quarter. Bank of America Corp DE now owns 814,153 shares of the company's stock valued at $7,661,000 after acquiring an additional 63,941 shares during the period. 99.41% of the stock is owned by institutional investors.

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.