Eyepoint Pharmaceuticals (NASDAQ:EYPT) Reaches New 12-Month High – Time to Buy?

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $15.72 and last traded at $16.4550, with a volume of 250111 shares. The stock had previously closed at $14.52.

Analysts Set New Price Targets

Several equities analysts have recently commented on EYPT shares. Mizuho set a $28.00 price objective on Eyepoint Pharmaceuticals in a research report on Monday, October 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, October 8th. Cantor Fitzgerald raised shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, November 25th. Finally, Royal Bank Of Canada upped their price objective on shares of Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Eyepoint Pharmaceuticals Trading Up 6.1%

The stock has a 50 day simple moving average of $13.07 and a 200 day simple moving average of $11.30. The firm has a market capitalization of $1.47 billion, a PE ratio of -5.93 and a beta of 1.67.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Wednesday, November 5th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.77) by ($0.08). Eyepoint Pharmaceuticals had a negative return on equity of 76.13% and a negative net margin of 485.95%.The firm had revenue of $0.97 million during the quarter, compared to the consensus estimate of $3.33 million. As a group, equities analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of EYPT. Nisa Investment Advisors LLC increased 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 valued at $27,000 after purchasing an additional 2,733 shares during the period. State of Alaska Department of Revenue bought a new stake in shares of Eyepoint Pharmaceuticals in the 3rd quarter worth approximately $50,000. Russell Investments Group Ltd. purchased a new position in shares of Eyepoint Pharmaceuticals during the third quarter valued at approximately $76,000. Tower Research Capital LLC TRC raised its holdings 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 acquiring an additional 5,967 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Eyepoint Pharmaceuticals during the second quarter valued at approximately $100,000. 99.41% of the stock is 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.