EYEPOINT PHARMACEUTICALS (NASDAQ:EYPT) Stock Passes Above 200-Day Moving Average - Should You Sell?

Shares of EYEPOINT PHARMACEUTICALS, INC. (NASDAQ:EYPT - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $7.27 and traded as high as $10.77. EYEPOINT PHARMACEUTICALS shares last traded at $10.45, with a volume of 627,014 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on EYPT shares. Royal Bank Of Canada assumed coverage on EYEPOINT PHARMACEUTICALS in a research report on Tuesday, June 17th. They set an "outperform" rating and a $28.00 price objective for the company. Mizuho reduced their target price on EYEPOINT PHARMACEUTICALS from $30.00 to $26.00 and set an "outperform" rating for the company in a report on Friday, May 16th. 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. Finally, Chardan Capital reduced their target price on EYEPOINT PHARMACEUTICALS from $33.00 to $27.00 and set a "buy" rating for the company in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, EYEPOINT PHARMACEUTICALS currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.67.

EYEPOINT PHARMACEUTICALS Stock Down 0.1%

The company has a market cap of $721.13 million, a P/E ratio of -4.35 and a beta of 1.67. The company has a fifty day moving average of $8.88 and a 200 day moving average of $7.30.

EYEPOINT PHARMACEUTICALS (NASDAQ:EYPT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.65) 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 company had revenue of $24.50 million during the quarter, compared to analyst estimates of $8.84 million. As a group, research analysts forecast that EYEPOINT PHARMACEUTICALS, INC. will post -2.13 EPS for the current year.

Institutional Trading of EYEPOINT PHARMACEUTICALS

Several large investors have recently modified their holdings of EYPT. RA Capital Management L.P. bought a new stake in shares of EYEPOINT PHARMACEUTICALS in the fourth quarter worth $23,705,000. TCG Crossover Management LLC lifted its position in EYEPOINT PHARMACEUTICALS by 287.3% during the fourth quarter. TCG Crossover Management LLC now owns 3,572,335 shares of the company's stock valued at $26,614,000 after purchasing an additional 2,650,000 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in 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 valued at $42,838,000 after purchasing an additional 1,958,580 shares in the last quarter. Federated Hermes Inc. lifted its position in EYEPOINT PHARMACEUTICALS by 92.7% during the fourth quarter. Federated Hermes Inc. now owns 3,707,445 shares of the company's stock valued at $27,620,000 after purchasing an additional 1,783,765 shares in the last quarter. Finally, Suvretta Capital Management LLC lifted its position in EYEPOINT PHARMACEUTICALS by 31.1% during the fourth quarter. Suvretta Capital Management LLC now owns 6,783,091 shares of the company's stock valued at $50,534,000 after purchasing an additional 1,607,268 shares in the last quarter. Institutional investors 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.