Eyepoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 3.7% – Here’s What Happened

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s stock price was down 3.7% during trading on Monday . The stock traded as low as $12.85 and last traded at $12.90. Approximately 78,881 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 1,328,051 shares. The stock had previously closed at $13.40.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. TD Cowen raised shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Friday, December 19th. Citigroup lifted their price objective on Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, March 9th. HC Wainwright upped their target price on Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Chardan Capital increased their target price on Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $32.20.

Eyepoint Pharmaceuticals Trading Up 3.5%

The company has a market cap of $1.13 billion, a PE ratio of -4.29 and a beta of 1.89. The firm has a 50 day moving average of $14.33 and a two-hundred day moving average of $14.52.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Wednesday, March 4th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.03). Eyepoint Pharmaceuticals had a negative net margin of 739.39% and a negative return on equity of 88.31%. The company had revenue of $0.62 million for the quarter, compared to analysts’ expectations of $1.01 million. On average, research analysts forecast that Eyepoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue bought a new stake in Eyepoint Pharmaceuticals during the 3rd quarter valued at about $50,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Eyepoint Pharmaceuticals by 51.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock valued at $74,000 after buying an additional 1,358 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Eyepoint Pharmaceuticals during the third quarter valued at 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 acquiring an additional 5,967 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Eyepoint Pharmaceuticals by 20.6% during the fourth quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock valued at $85,000 after acquiring an additional 794 shares in the last quarter. Institutional investors own 99.41% of the company’s stock.

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.