Eyepoint Pharmaceuticals (NASDAQ:EYPT) Releases Quarterly Earnings Results

Eyepoint Pharmaceuticals (NASDAQ:EYPT) issued its quarterly earnings results on Wednesday. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.13), Zacks reports. Eyepoint Pharmaceuticals had a negative return on equity of 124.86% and a negative net margin of 10,994.73%.The company had revenue of $0.51 million for the quarter, compared to analysts’ expectations of $0.45 million.

Eyepoint Pharmaceuticals Trading Up 7.9%

Shares of NASDAQ EYPT traded up $1.02 during mid-day trading on Friday, hitting $13.85. The company had a trading volume of 899,046 shares, compared to its average volume of 1,277,233. The firm has a 50-day simple moving average of $13.10 and a two-hundred day simple moving average of $13.78. Eyepoint Pharmaceuticals has a one year low of $9.65 and a one year high of $19.11. The company has a market capitalization of $1.16 billion, a PE ratio of -3.70 and a beta of 1.76.

Analyst Ratings Changes

A number of research analysts have recently issued reports on EYPT shares. Chardan Capital restated a “buy” rating and set a $65.00 price target on shares of Eyepoint Pharmaceuticals in a research note on Friday. Cantor Fitzgerald boosted their target price on shares of Eyepoint Pharmaceuticals from $47.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday. Stifel Nicolaus began coverage on Eyepoint Pharmaceuticals in a report on Thursday, July 16th. They issued a “buy” rating and a $40.00 price target for the company. HC Wainwright decreased their price target on Eyepoint Pharmaceuticals from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.38.

Institutional Trading of Eyepoint Pharmaceuticals

Several large investors have recently modified their holdings of the stock. California State Teachers Retirement System boosted its stake in shares of Eyepoint Pharmaceuticals by 20.6% in the 4th quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock valued at $85,000 after purchasing an additional 794 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Eyepoint Pharmaceuticals during the third quarter worth about $76,000. Persistent Asset Partners Ltd bought a new position in shares of Eyepoint Pharmaceuticals in the fourth quarter valued at approximately $98,000. Tower Research Capital LLC TRC increased its holdings in Eyepoint Pharmaceuticals by 218.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock worth $82,000 after buying an additional 5,967 shares during the last quarter. Finally, Bank of Nova Scotia purchased a new position in Eyepoint Pharmaceuticals in the third quarter valued at approximately $158,000. 99.41% of the stock is owned by institutional investors and hedge funds.

Eyepoint Pharmaceuticals Company Profile

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.