Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Passes Above 200-Day Moving Average – What’s Next?

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.19 and traded as high as $14.28. Eyepoint Pharmaceuticals shares last traded at $13.88, with a volume of 1,590,961 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently commented on EYPT shares. Royal Bank Of Canada started coverage on Eyepoint Pharmaceuticals in a report on Tuesday, June 17th. They set an “outperform” rating and a $28.00 target price for the company. HC Wainwright upped their target price on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Wednesday. Finally, Chardan Capital reaffirmed a “buy” rating and set a $27.00 target price on shares of Eyepoint Pharmaceuticals in a report on Thursday, August 7th. Seven analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.86.

Eyepoint Pharmaceuticals Stock Up 4.8%

The stock has a market capitalization of $956.71 million, a price-to-earnings ratio of -5.18 and a beta of 1.95. The firm has a 50-day moving average of $12.31 and a two-hundred day moving average of $9.19.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.85) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.18). The business had revenue of $5.33 million for the quarter, compared to analyst estimates of $6.82 million. Eyepoint Pharmaceuticals had a negative net margin of 337.93% and a negative return on equity of 63.80%. As a group, sell-side analysts predict that Eyepoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its position in Eyepoint Pharmaceuticals by 1,636.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock worth $27,000 after purchasing an additional 2,733 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Eyepoint Pharmaceuticals by 218.3% in the 2nd 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 last quarter. GAMMA Investing LLC lifted its stake in shares of Eyepoint Pharmaceuticals by 3,174.4% in the 1st quarter. GAMMA Investing LLC now owns 10,249 shares of the company’s stock valued at $56,000 after purchasing an additional 9,936 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Eyepoint Pharmaceuticals in the 2nd quarter valued at $100,000. Finally, Raymond James Financial Inc. increased its holdings in shares of Eyepoint Pharmaceuticals by 11.0% during the 2nd quarter. Raymond James Financial Inc. now owns 11,900 shares of the company’s stock valued at $112,000 after acquiring an additional 1,177 shares during the last quarter. 99.41% of the stock is 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.