EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Up 21.2% - What's Next?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) shares were up 21.2% during mid-day trading on Wednesday . The company traded as high as $7.44 and last traded at $7.22. Approximately 1,605,059 shares traded hands during trading, an increase of 95% from the average daily volume of 821,988 shares. The stock had previously closed at $5.96.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on EYPT shares. Chardan Capital lowered their target price on shares of EyePoint Pharmaceuticals from $33.00 to $27.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Mizuho lowered 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. Wall Street Zen upgraded shares of EyePoint Pharmaceuticals to a "sell" rating in a research report on Friday, March 14th. Finally, HC Wainwright restated a "buy" rating and set a $22.00 target price on shares of EyePoint Pharmaceuticals in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat.com, EyePoint Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $25.38.

EyePoint Pharmaceuticals Price Performance

The company has a fifty day moving average of $5.86 and a two-hundred day moving average of $6.98. The stock has a market capitalization of $496.13 million, a price-to-earnings ratio of -3.61 and a beta of 1.58.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.65) earnings per share for the quarter, hitting the consensus estimate of ($0.65). EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. The firm had revenue of $24.50 million during the quarter, compared to the consensus estimate of $8.84 million. Equities analysts anticipate that EyePoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System lifted its holdings in shares of EyePoint Pharmaceuticals by 3.8% during the fourth quarter. California State Teachers Retirement System now owns 48,614 shares of the company's stock worth $362,000 after purchasing an additional 1,797 shares during the period. Arizona State Retirement System boosted its position in shares of EyePoint Pharmaceuticals by 12.7% during the 1st quarter. Arizona State Retirement System now owns 16,600 shares of the company's stock worth $90,000 after purchasing an additional 1,877 shares in the last quarter. Legal & General Group Plc boosted its position in shares of EyePoint Pharmaceuticals by 4.4% during the 4th quarter. Legal & General Group Plc now owns 46,263 shares of the company's stock worth $345,000 after purchasing an additional 1,932 shares in the last quarter. Summit Investment Advisors Inc. boosted 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 worth $51,000 after purchasing an additional 1,940 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of EyePoint Pharmaceuticals by 16.1% during the 4th quarter. Invesco Ltd. now owns 15,657 shares of the company's stock worth $117,000 after purchasing an additional 2,177 shares in the last quarter. 99.41% of the stock is owned by institutional investors and hedge funds.

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.