Eyepoint Pharmaceuticals, Inc. $EYPT Position Raised by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Eyepoint Pharmaceuticals by 7.8%, now owning 6.2 million shares worth approximately $33.6 million.
• Eyepoint Pharmaceuticals reported a loss of ($0.85) earnings per share for the last quarter, missing analyst expectations of ($0.67) by $0.18.
• The company currently has a consensus rating of "Buy" from analysts, with a target price averaging $26.86.

Adage Capital Partners GP L.L.C. raised its holdings in Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Free Report) by 7.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,200,000 shares of the company's stock after acquiring an additional 450,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned 9.01% of Eyepoint Pharmaceuticals worth $33,604,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. MYDA Advisors LLC increased its position in shares of Eyepoint Pharmaceuticals by 12.5% in the first quarter. MYDA Advisors LLC now owns 180,000 shares of the company's stock valued at $976,000 after buying an additional 20,000 shares in the last quarter. Walleye Capital LLC purchased a new stake in Eyepoint Pharmaceuticals in the 1st quarter valued at about $180,000. EntryPoint Capital LLC acquired a new position in shares of Eyepoint Pharmaceuticals in the 1st quarter valued at about $186,000. Hsbc Holdings PLC lifted its stake in shares of Eyepoint Pharmaceuticals by 142.7% in the 1st quarter. Hsbc Holdings PLC now owns 625,140 shares of the company's stock valued at $3,387,000 after purchasing an additional 367,525 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Eyepoint Pharmaceuticals by 31.5% during the 1st quarter. Wellington Management Group LLP now owns 233,231 shares of the company's stock worth $1,264,000 after acquiring an additional 55,915 shares in the last quarter. Hedge funds and other institutional investors own 99.41% of the company's stock.

Eyepoint Pharmaceuticals Price Performance

EYPT traded up $0.29 during trading hours on Tuesday, hitting $13.94. 193,711 shares of the stock were exchanged, compared to its average volume of 794,770. The stock has a 50-day simple moving average of $10.80 and a 200-day simple moving average of $8.13. Eyepoint Pharmaceuticals, Inc. has a 12 month low of $3.91 and a 12 month high of $14.37. The stock has a market cap of $960.84 million, a price-to-earnings ratio of -5.18 and a beta of 1.93.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $5.33 million for the quarter, compared to the consensus estimate of $6.82 million. Sell-side analysts expect that Eyepoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Wall Street Analyst Weigh In

EYPT has been the topic of several recent research reports. Chardan Capital reissued a "buy" rating and set a $27.00 price target on shares of Eyepoint Pharmaceuticals in a research report on Thursday, August 7th. Royal Bank Of Canada started coverage on Eyepoint Pharmaceuticals in a research note on Tuesday, June 17th. They set an "outperform" rating and a $28.00 target price for the company. Mizuho reduced their target price on Eyepoint Pharmaceuticals from $30.00 to $26.00 and set an "outperform" rating for the company in a research note on Friday, May 16th. Finally, HC Wainwright increased their target price on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Seven equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $26.86.

Eyepoint Pharmaceuticals 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.