Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Eyepoint Pharmaceuticals' stock price has surpassed its 200-day moving average, indicating potential increased investor confidence, with the stock trading at $13.88 on a volume of 1,590,961 shares.
• Several analyst firms have updated their price targets for Eyepoint, with HC Wainwright raising its target to $23.00 and Chardan Capital setting a price objective of $27.00, amidst a consensus average target of $26.86.
• Despite these positive ratings, Eyepoint reported disappointing quarterly earnings, with an EPS of ($0.85), falling short of analyst expectations of ($0.67), and generating a revenue of $5.33 million against a forecast of $6.82 million.

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.19 and traded as high as $14.28. Eyepoint Pharmaceuticals shares last traded at $13.88, with a volume of 1,590,961 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. HC Wainwright raised their target price on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Eyepoint Pharmaceuticals in a report on Wednesday. Chardan Capital restated a "buy" rating and set a $27.00 price objective on shares of Eyepoint Pharmaceuticals in a report on Thursday, August 7th. Finally, Royal Bank Of Canada began coverage on Eyepoint Pharmaceuticals in a report on Tuesday, June 17th. They set an "outperform" rating and a $28.00 price objective on the stock. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Eyepoint Pharmaceuticals has an average rating of "Moderate Buy" and a consensus price target of $26.86.

Eyepoint Pharmaceuticals Stock Up 4.8%

The firm's 50-day moving average price is $12.31 and its 200 day moving average price is $9.19. The firm has a market cap of $956.71 million, a P/E ratio of -5.18 and a beta of 1.95.

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). Eyepoint Pharmaceuticals had a negative return on equity of 63.80% and a negative net margin of 337.93%.The business had revenue of $5.33 million for the quarter, compared to analyst estimates of $6.82 million. On average, equities analysts predict that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

Institutional Trading of Eyepoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. raised its stake in shares of Eyepoint Pharmaceuticals by 9.7% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company's stock worth $63,988,000 after buying an additional 600,000 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of Eyepoint Pharmaceuticals by 12.6% in the 2nd quarter. Federated Hermes Inc. now owns 4,599,450 shares of the company's stock worth $43,281,000 after buying an additional 513,870 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Eyepoint Pharmaceuticals by 3.6% in the 2nd quarter. Franklin Resources Inc. now owns 4,301,123 shares of the company's stock worth $40,474,000 after buying an additional 151,262 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Eyepoint Pharmaceuticals by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 3,834,368 shares of the company's stock worth $20,782,000 after buying an additional 31,141 shares in the last quarter. Finally, Aberdeen Group plc raised its stake in shares of Eyepoint Pharmaceuticals by 346.9% in the 2nd quarter. Aberdeen Group plc now owns 1,031,201 shares of the company's stock worth $9,704,000 after buying an additional 800,456 shares in the last quarter. Institutional investors own 99.41% of the company's stock.

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.

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