Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $7.03 and traded as high as $10.02. Eyepoint Pharmaceuticals shares last traded at $9.83, with a volume of 332,554 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EYPT. Mizuho lowered their price target 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. Royal Bank Of Canada began coverage on Eyepoint Pharmaceuticals in a report on Tuesday, June 17th. They issued an "outperform" rating and a $28.00 target price on the stock. Wall Street Zen raised Eyepoint Pharmaceuticals to a "sell" rating in a report on Friday, March 14th. Chardan Capital reduced their target price on Eyepoint Pharmaceuticals from $33.00 to $27.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Finally, HC Wainwright reissued a "buy" rating and issued a $22.00 target price on shares of Eyepoint Pharmaceuticals in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Eyepoint Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $25.67.

Eyepoint Pharmaceuticals Trading Down 2.4%

The firm has a fifty day simple moving average of $7.72 and a 200-day simple moving average of $7.04. The stock has a market cap of $653.01 million, a price-to-earnings ratio of -3.94 and a beta of 1.67.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.65) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.65). Eyepoint Pharmaceuticals had a negative return on equity of 54.27% and a negative net margin of 261.91%. The firm had revenue of $24.50 million for the quarter, compared to the consensus estimate of $8.84 million. On average, equities analysts predict that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Summit Investment Advisors Inc. raised its position in shares of Eyepoint Pharmaceuticals by 39.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,838 shares of the company's stock valued at $51,000 after acquiring an additional 1,940 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Eyepoint Pharmaceuticals during the 4th quarter valued at $59,000. Virtus ETF Advisers LLC bought a new stake in shares of Eyepoint Pharmaceuticals during the 4th quarter valued at $67,000. AlphaQuest LLC raised its position in shares of Eyepoint Pharmaceuticals by 13,246.6% during the 4th quarter. AlphaQuest LLC now owns 9,743 shares of the company's stock valued at $73,000 after acquiring an additional 9,670 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Eyepoint Pharmaceuticals during the 4th quarter valued at $76,000. 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.