Eyepoint Pharmaceuticals (NASDAQ:EYPT) Issues Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Eyepoint Pharmaceuticals (NASDAQ:EYPT) issued its quarterly earnings data on Wednesday. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.08), Zacks reports. Eyepoint Pharmaceuticals had a negative net margin of 337.93% and a negative return on equity of 63.80%. The firm had revenue of $0.97 million during the quarter, compared to analyst estimates of $3.33 million.

Eyepoint Pharmaceuticals Stock Up 1.2%

Shares of EYPT stock traded up $0.13 during trading hours on Friday, reaching $11.21. The company’s stock had a trading volume of 1,204,048 shares, compared to its average volume of 911,428. Eyepoint Pharmaceuticals has a fifty-two week low of $3.91 and a fifty-two week high of $14.91. The firm’s 50 day simple moving average is $12.83 and its 200-day simple moving average is $10.26. The company has a market capitalization of $772.67 million, a price-to-earnings ratio of -4.18 and a beta of 1.85.

Analysts Set New Price Targets

EYPT has been the topic of a number of recent research reports. Chardan Capital reaffirmed a “buy” rating and set a $27.00 price target on shares of Eyepoint Pharmaceuticals in a research report on Thursday, August 7th. Royal Bank Of Canada raised their target price on shares of Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday. Mizuho set a $28.00 price target on Eyepoint Pharmaceuticals in a research note on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Wednesday, October 8th. Finally, HC Wainwright lifted their price objective on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its stake in Eyepoint Pharmaceuticals by 218.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock worth $82,000 after acquiring an additional 5,967 shares in the last quarter. Raymond James Financial Inc. grew 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 purchasing an additional 1,177 shares during the last quarter. American Century Companies Inc. increased its position in Eyepoint Pharmaceuticals by 57.8% during the 2nd quarter. American Century Companies Inc. now owns 67,612 shares of the company’s stock worth $636,000 after purchasing an additional 24,752 shares in the last quarter. Man Group plc lifted its stake in Eyepoint Pharmaceuticals by 400.9% in the 2nd quarter. Man Group plc now owns 72,682 shares of the company’s stock valued at $684,000 after purchasing an additional 58,173 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Eyepoint Pharmaceuticals by 11.0% in the second quarter. Rhumbline Advisers now owns 96,280 shares of the company’s stock valued at $906,000 after buying an additional 9,548 shares in the last quarter. Institutional investors own 99.41% of the company’s stock.

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.