Eyepoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 9.8% - Here's Why

Key Points

• Eyepoint Pharmaceuticals stock dropped 9.8%, trading as low as $11.87 after closing at $13.16, with trading volume significantly increasing by 70% from the average.
• Despite the recent downturn, analysts maintain a consensus rating of "Moderate Buy" for the stock, with several firms issuing price targets above $20.
• The company reported a significant earnings miss, with a loss of ($0.85) per share against an expected ($0.67), and total revenue of $5.33 million falling short of estimates.

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) dropped 9.8% on Wednesday . The stock traded as low as $12.20 and last traded at $11.87. Approximately 1,424,955 shares were traded during trading, an increase of 70% from the average daily volume of 836,709 shares. The stock had previously closed at $13.16.

Wall Street Analysts Forecast Growth

EYPT has been the topic of several research analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, October 8th. Royal Bank Of Canada began coverage on shares of Eyepoint Pharmaceuticals in a report on Tuesday, June 17th. They set an "outperform" rating and a $28.00 price target on the stock. Chardan Capital restated a "buy" rating and set a $27.00 price target on shares of Eyepoint Pharmaceuticals in a report on Thursday, August 7th. Finally, HC Wainwright boosted their price target on shares of Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the company a "buy" rating in a report on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Eyepoint Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $26.86.

Eyepoint Pharmaceuticals Stock Performance

The stock has a market cap of $812.79 million, a price-to-earnings ratio of -4.39 and a beta of 1.95. The stock's 50-day simple moving average is $12.58 and its two-hundred day simple moving average is $9.42.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported ($0.85) earnings per share for the quarter, missing analysts' consensus estimates of ($0.67) by ($0.18). The firm had revenue of $5.33 million for the quarter, compared to analyst estimates of $6.82 million. Eyepoint Pharmaceuticals had a negative return on equity of 63.80% and a negative net margin of 337.93%. As a group, research analysts predict that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its position in shares of Eyepoint Pharmaceuticals by 1,636.5% during the second quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company's stock valued at $27,000 after buying an additional 2,733 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of 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 buying an additional 5,967 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Eyepoint Pharmaceuticals by 3,174.4% during the first quarter. GAMMA Investing LLC now owns 10,249 shares of the company's stock valued at $56,000 after buying an additional 9,936 shares during the last quarter. R Squared Ltd acquired a new position in shares of Eyepoint Pharmaceuticals during the second quarter valued at about $100,000. Finally, Raymond James Financial Inc. raised its position in shares of Eyepoint Pharmaceuticals by 11.0% during the second quarter. Raymond James Financial Inc. now owns 11,900 shares of the company's stock valued at $112,000 after buying an additional 1,177 shares during the last quarter. Institutional investors and hedge funds 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.

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