Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Down 5.3% – Should You Sell?

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) dropped 5.3% during mid-day trading on Tuesday . The stock traded as low as $11.61 and last traded at $11.7650. 1,467,120 shares were traded during mid-day trading, an increase of 17% from the average daily volume of 1,254,539 shares. The stock had previously closed at $12.42.

Analysts Set New Price Targets

A number of research firms recently commented on EYPT. Cantor Fitzgerald boosted their price target on Eyepoint Pharmaceuticals from $47.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday. Royal Bank Of Canada decreased their price objective on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Friday, July 17th. Stifel Nicolaus began coverage on Eyepoint Pharmaceuticals in a research report on Thursday, July 16th. They set a “buy” rating and a $40.00 target price on the stock. Finally, Chardan Capital boosted their price target on Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $44.38.

Eyepoint Pharmaceuticals Stock Performance

The firm has a market cap of $1.08 billion, a price-to-earnings ratio of -3.67 and a beta of 1.76. The firm has a 50-day moving average price of $13.12 and a two-hundred day moving average price of $13.79.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($0.09). Eyepoint Pharmaceuticals had a negative return on equity of 110.54% and a negative net margin of 3,566.63%.The company had revenue of $0.51 million for the quarter, compared to analyst estimates of $0.39 million. Research analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -3.3 earnings per share for the current year.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Several large investors have recently made changes to their positions in the business. Stempoint Capital LP lifted its position in Eyepoint Pharmaceuticals by 129.1% during the 1st quarter. Stempoint Capital LP now owns 810,764 shares of the company’s stock worth $10,451,000 after acquiring an additional 456,915 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Eyepoint Pharmaceuticals by 22.6% in the first quarter. Janus Henderson Group PLC now owns 3,601,168 shares of the company’s stock valued at $46,419,000 after buying an additional 663,439 shares during the last quarter. California State Teachers Retirement System grew its holdings in Eyepoint Pharmaceuticals by 2,158.3% in the 1st quarter. California State Teachers Retirement System now owns 105,101 shares of the company’s stock worth $1,355,000 after buying an additional 100,447 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Eyepoint Pharmaceuticals by 58.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 36,072 shares of the company’s stock worth $465,000 after acquiring an additional 13,297 shares during the period. Finally, Commodore Capital LP bought a new position in shares of Eyepoint Pharmaceuticals during the 1st quarter valued at about $36,414,000. Institutional investors and hedge funds own 99.41% of the company’s stock.

About Eyepoint Pharmaceuticals

Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company’s proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint’s commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.

Eyepoint’s lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.