Eyepoint Pharmaceuticals (NASDAQ:EYPT) Sees Unusually-High Trading Volume – Time to Buy?

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares saw an uptick in trading volume on Tuesday . 2,108,103 shares changed hands during mid-day trading, an increase of 103% from the previous session’s volume of 1,037,497 shares.The stock last traded at $15.38 and had previously closed at $12.94.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. TD Cowen raised shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research report on Friday, December 19th. Royal Bank Of Canada lifted their price target on Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Thursday, January 22nd. Mizuho set a $28.00 price objective on Eyepoint Pharmaceuticals in a report on Monday, October 20th. Finally, Cantor Fitzgerald raised Eyepoint Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, November 25th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $29.25.

Eyepoint Pharmaceuticals Stock Performance

The firm has a fifty day simple moving average of $15.85 and a 200-day simple moving average of $13.80. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -5.00 and a beta of 1.76.

Insider Activity at Eyepoint Pharmaceuticals

In related news, insider Ramiro Ribeiro sold 42,544 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $17.10, for a total value of $727,502.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.46% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EYPT. Adage Capital Partners GP L.L.C. grew its holdings in Eyepoint Pharmaceuticals by 9.7% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock worth $63,988,000 after acquiring an additional 600,000 shares during the period. Federated Hermes Inc. grew its stake in Eyepoint Pharmaceuticals by 36.3% during the fourth quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock worth $109,938,000 after purchasing an additional 1,601,101 shares during the period. Franklin Resources Inc. grew its stake in Eyepoint Pharmaceuticals by 19.3% during the fourth quarter. Franklin Resources Inc. now owns 4,976,915 shares of the company’s stock worth $90,928,000 after purchasing an additional 805,031 shares during the period. Vanguard Group Inc. increased its holdings in Eyepoint Pharmaceuticals by 27.1% in the fourth quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock worth $88,100,000 after purchasing an additional 1,027,623 shares in the last quarter. Finally, Paradigm Biocapital Advisors LP lifted its stake in Eyepoint Pharmaceuticals by 84.1% in the fourth quarter. Paradigm Biocapital Advisors LP now owns 3,691,475 shares of the company’s stock valued at $67,443,000 after buying an additional 1,686,110 shares during the period. 99.41% of the stock is owned by institutional investors and hedge funds.

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.