Eyepoint Pharmaceuticals (NASDAQ:EYPT) Trading Up 5.8% – Time to Buy?

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s stock price rose 5.8% on Tuesday . The stock traded as high as $17.31 and last traded at $17.3450. Approximately 618,858 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 930,342 shares. The stock had previously closed at $16.40.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Royal Bank Of Canada lifted their target price on Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Wednesday, October 8th. Mizuho set a $28.00 price objective on shares of Eyepoint Pharmaceuticals in a research report on Monday, October 20th. Finally, Cantor Fitzgerald upgraded shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Eyepoint Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Eyepoint Pharmaceuticals Price Performance

The company has a fifty day moving average price of $13.44 and a two-hundred day moving average price of $11.82. The company has a market capitalization of $1.41 billion, a P/E ratio of -5.70 and a beta of 1.67.

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

Institutional Trading of Eyepoint Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. bought a new stake in shares of Eyepoint Pharmaceuticals in the 1st quarter valued at $232,000. Invesco Ltd. lifted its holdings in Eyepoint Pharmaceuticals by 174.3% in the first quarter. Invesco Ltd. now owns 42,948 shares of the company’s stock valued at $233,000 after buying an additional 27,291 shares during the period. Dynamic Technology Lab Private Ltd boosted its position in Eyepoint Pharmaceuticals by 127.8% during the first quarter. Dynamic Technology Lab Private Ltd now owns 73,310 shares of the company’s stock valued at $397,000 after acquiring an additional 41,132 shares during the last quarter. Vanguard Group Inc. grew its holdings in Eyepoint Pharmaceuticals by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 3,834,368 shares of the company’s stock worth $20,782,000 after acquiring an additional 31,141 shares during the period. Finally, Walleye Capital LLC grew its holdings in Eyepoint Pharmaceuticals by 500.6% during the 2nd quarter. Walleye Capital LLC now owns 199,449 shares of the company’s stock worth $1,877,000 after acquiring an additional 166,243 shares during the period. 99.41% of the stock is currently owned by institutional investors and hedge funds.

About Eyepoint Pharmaceuticals

EyePoint Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing therapeutics to improve the lives of patients with serious retinal diseases. The company's pipeline leverages its proprietary bioerodible Durasert E technology for sustained intraocular drug delivery.