Eyepoint Pharmaceuticals (NASDAQ:EYPT) Shares Up 5.8% – Time to Buy?

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s share price rose 5.8% during trading on Tuesday . The stock traded as high as $17.31 and last traded at $17.3450. Approximately 618,858 shares were traded during trading, a decline of 33% from the average daily volume of 930,342 shares. The stock had previously closed at $16.40.

Analyst Upgrades and Downgrades

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

Eyepoint Pharmaceuticals Stock Up 2.4%

The company has a market cap of $1.41 billion, a P/E ratio of -5.71 and a beta of 1.67. The firm’s 50-day moving average price is $13.63 and its 200-day moving average price is $11.96.

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

Institutional Trading of Eyepoint Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in EYPT. Nisa Investment Advisors LLC increased 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 period. State of Alaska Department of Revenue purchased a new position in Eyepoint Pharmaceuticals during the third quarter valued at approximately $50,000. Russell Investments Group Ltd. bought a new stake in Eyepoint Pharmaceuticals during the 3rd quarter worth approximately $76,000. Tower Research Capital LLC TRC lifted its stake in Eyepoint Pharmaceuticals by 218.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock worth $82,000 after purchasing an additional 5,967 shares in the last quarter. Finally, R Squared Ltd bought a new position in Eyepoint Pharmaceuticals in the 2nd quarter valued at $100,000. Hedge funds and other institutional investors own 99.41% of the company’s stock.

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.