Eyepoint Pharmaceuticals (NASDAQ:EYPT) Shares Gap Up – Here’s What Happened

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $15.92, but opened at $17.16. Eyepoint Pharmaceuticals shares last traded at $16.4510, with a volume of 206,971 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have commented on EYPT. Royal Bank Of Canada increased their target price on Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Mizuho set a $28.00 price objective on Eyepoint Pharmaceuticals in a research note on Monday, October 20th. Cantor Fitzgerald upgraded shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, November 25th. TD Cowen raised shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a report on Friday, December 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Eyepoint Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $29.25.

Eyepoint Pharmaceuticals Stock Performance

The company has a market cap of $1.35 billion, a P/E ratio of -5.48 and a beta of 1.63. The stock has a 50 day moving average price of $15.65 and a 200 day moving average price of $13.12.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results on Wednesday, November 5th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $0.97 million for the quarter, compared to analyst estimates of $3.33 million. As a group, equities research analysts predict that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

Insider Buying and Selling at Eyepoint Pharmaceuticals

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 42,544 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $17.10, for a total transaction of $727,502.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.46% of the company’s stock.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in EYPT. Nisa Investment Advisors LLC grew its position in Eyepoint Pharmaceuticals by 1,636.5% during the second quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock worth $27,000 after buying an additional 2,733 shares in the last quarter. 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. acquired a new stake in shares of Eyepoint Pharmaceuticals during the 3rd quarter worth approximately $76,000. Tower Research Capital LLC TRC increased its position 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 purchasing an additional 5,967 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Eyepoint Pharmaceuticals in the second quarter valued at $100,000. 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.