Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Up 11% - Here's Why

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) was up 11% on Wednesday . The company traded as high as $10.68 and last traded at $11.05. Approximately 181,196 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 816,193 shares. The stock had previously closed at $9.95.

Analyst Upgrades and Downgrades

EYPT has been the subject of a number of recent analyst reports. Royal Bank Of Canada initiated coverage on Eyepoint Pharmaceuticals in a research report on Tuesday, June 17th. They issued an "outperform" rating and a $28.00 price objective for the company. Mizuho lowered their price objective on Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Chardan Capital lowered their price objective on Eyepoint Pharmaceuticals from $33.00 to $27.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 price objective on shares of Eyepoint Pharmaceuticals in a research report on Thursday, May 29th. Finally, Wall Street Zen raised Eyepoint Pharmaceuticals to a "sell" rating in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat.com, Eyepoint Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $25.67.

Eyepoint Pharmaceuticals Price Performance

The firm's fifty day moving average is $7.79 and its 200-day moving average is $7.06. The firm has a market cap of $759.04 million, a price-to-earnings ratio of -4.58 and a beta of 1.67.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.65) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.65). Eyepoint Pharmaceuticals had a negative net margin of 261.91% and a negative return on equity of 54.27%. The firm had revenue of $24.50 million for the quarter, compared to analysts' expectations of $8.84 million. As a group, equities research analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Institutional Trading of Eyepoint Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. raised its position in 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 buying an additional 1,940 shares during the last quarter. GAMMA Investing LLC boosted its stake in Eyepoint Pharmaceuticals by 3,174.4% during the 1st quarter. GAMMA Investing LLC now owns 10,249 shares of the company's stock worth $56,000 after purchasing an additional 9,936 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Eyepoint Pharmaceuticals during the 4th quarter valued at about $59,000. Virtus ETF Advisers LLC acquired a new position in Eyepoint Pharmaceuticals in the 4th quarter valued at about $67,000. Finally, AlphaQuest LLC raised its holdings in Eyepoint Pharmaceuticals by 13,246.6% in the 4th quarter. AlphaQuest LLC now owns 9,743 shares of the company's stock valued at $73,000 after buying an additional 9,670 shares during the period. 99.41% of the stock is currently owned by institutional investors.

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.

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