EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Up 21.2% - Time to Buy?

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) rose 21.2% on Wednesday . The stock traded as high as $7.44 and last traded at $7.22. Approximately 1,605,059 shares changed hands during mid-day 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

Several analysts have recently weighed in on EYPT shares. Wall Street Zen upgraded EyePoint Pharmaceuticals to a "sell" rating in a research note on Friday, March 14th. HC Wainwright restated a "buy" rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday. Chardan Capital dropped their price objective 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, 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 report on Friday, May 16th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $25.38.

EyePoint Pharmaceuticals Price Performance

The business's fifty day simple moving average is $5.86 and its 200 day simple moving average is $6.93. The stock has a market cap of $510.58 million, a price-to-earnings ratio of -3.71 and a beta of 1.58.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.65) EPS for the quarter, meeting the consensus estimate of ($0.65). The business had revenue of $24.50 million during the quarter, compared to analyst estimates of $8.84 million. EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. As a group, equities analysts forecast that EyePoint Pharmaceuticals, Inc. will post -2.13 EPS for the current fiscal year.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several large investors have recently added to or reduced their stakes in EYPT. Dynamic Technology Lab Private Ltd grew its position in shares of EyePoint Pharmaceuticals by 127.8% during the first quarter. Dynamic Technology Lab Private Ltd now owns 73,310 shares of the company's stock worth $397,000 after acquiring an additional 41,132 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in EyePoint Pharmaceuticals by 7.8% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 6,200,000 shares of the company's stock worth $33,604,000 after purchasing an additional 450,000 shares during the last quarter. MYDA Advisors LLC grew its position in EyePoint Pharmaceuticals by 12.5% in the 1st quarter. MYDA Advisors LLC now owns 180,000 shares of the company's stock worth $976,000 after purchasing an additional 20,000 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of EyePoint Pharmaceuticals in the first quarter valued at approximately $180,000. Finally, EntryPoint Capital LLC bought a new stake in shares of EyePoint Pharmaceuticals during the first quarter valued at approximately $186,000. 99.41% of the stock is owned by institutional investors and hedge funds.

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.