Eyepoint Pharmaceuticals (NASDAQ:EYPT) Trading Up 9.3% - Should You Buy?

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report)'s stock price rose 9.3% during trading on Tuesday . The stock traded as high as $9.01 and last traded at $9.05. Approximately 267,876 shares were traded during trading, a decline of 67% from the average daily volume of 813,070 shares. The stock had previously closed at $8.28.

Analyst Ratings Changes

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

Eyepoint Pharmaceuticals Stock Down 7.0%

The firm has a market cap of $663.33 million, a P/E ratio of -4.00 and a beta of 1.61. The business's 50 day moving average is $7.27 and its two-hundred day moving average is $6.96.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.65) earnings per share for the quarter, hitting the consensus estimate of ($0.65). The firm had revenue of $24.50 million during the quarter, compared to analyst estimates of $8.84 million. Eyepoint Pharmaceuticals had a negative return on equity of 54.27% and a negative net margin of 261.91%. Equities research analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in EYPT. California State Teachers Retirement System grew its position in shares of Eyepoint Pharmaceuticals by 3.8% during the 4th quarter. California State Teachers Retirement System now owns 48,614 shares of the company's stock worth $362,000 after buying an additional 1,797 shares during the period. Arizona State Retirement System boosted its stake in Eyepoint Pharmaceuticals by 12.7% during the first quarter. Arizona State Retirement System now owns 16,600 shares of the company's stock worth $90,000 after acquiring an additional 1,877 shares in the last quarter. Legal & General Group Plc boosted its stake in Eyepoint Pharmaceuticals by 4.4% during the fourth quarter. Legal & General Group Plc now owns 46,263 shares of the company's stock worth $345,000 after acquiring an additional 1,932 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in Eyepoint Pharmaceuticals by 39.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,838 shares of the company's stock worth $51,000 after purchasing an additional 1,940 shares during the period. Finally, Invesco Ltd. boosted its holdings in Eyepoint Pharmaceuticals by 16.1% in the fourth quarter. Invesco Ltd. now owns 15,657 shares of the company's stock worth $117,000 after acquiring an additional 2,177 shares in the last quarter. 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.