Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Up 4% - Time to Buy?

Key Points

• Eyepoint Pharmaceuticals' stock price increased by 4% to $14.62, with a trading volume of 577,289 shares, which is 29% lower than its average daily volume.
• Analysts have given Eyepoint Pharmaceuticals an average rating of "Buy" with a consensus target price of $26.86, reflecting strong confidence in the stock's potential.
• The company reported a loss of $0.85 EPS for the last quarter, missing the expected $0.67, with revenue of $5.33 million versus a consensus of $6.82 million.

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) rose 4% on Tuesday . The company traded as high as $14.38 and last traded at $14.62. Approximately 577,289 shares changed hands during trading, a decline of 29% from the average daily volume of 809,655 shares. The stock had previously closed at $14.05.

Analyst Ratings Changes

EYPT has been the topic of a number of analyst reports. HC Wainwright boosted their price objective on shares of Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Royal Bank Of Canada initiated coverage on shares of Eyepoint Pharmaceuticals in a report on Tuesday, June 17th. They issued an "outperform" rating and a $28.00 price target on the stock. Finally, Chardan Capital restated a "buy" rating and issued a $27.00 price target on shares of Eyepoint Pharmaceuticals in a report on Thursday, August 7th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $26.86.

Eyepoint Pharmaceuticals Stock Performance

The company's fifty day simple moving average is $11.84 and its 200-day simple moving average is $8.87. The company has a market capitalization of $973.94 million, a P/E ratio of -5.21 and a beta of 1.93.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $6.82 million. On average, sell-side analysts predict that Eyepoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EYPT. Nisa Investment Advisors LLC grew its holdings in Eyepoint Pharmaceuticals by 1,636.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company's stock worth $27,000 after acquiring an additional 2,733 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of 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 acquiring an additional 9,936 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Eyepoint Pharmaceuticals by 218.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company's stock valued at $82,000 after acquiring an additional 5,967 shares during the last quarter. Arizona State Retirement System lifted its position in Eyepoint Pharmaceuticals by 12.7% during the first quarter. Arizona State Retirement System now owns 16,600 shares of the company's stock valued at $90,000 after acquiring an additional 1,877 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in Eyepoint Pharmaceuticals in the second quarter valued at approximately $100,000. 99.41% of the stock is currently owned by institutional investors.

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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