Eyepoint Pharmaceuticals (NASDAQ:EYPT) Shares Gap Up – Time to Buy?

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares 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 traded.

Analysts Set New Price Targets

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

Eyepoint Pharmaceuticals Price Performance

The business’s fifty day moving average price is $15.83 and its two-hundred day moving average price is $13.18. The stock has a market capitalization of $1.25 billion, a PE ratio of -5.04 and a beta of 1.63.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued 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). The firm had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $3.33 million. Eyepoint Pharmaceuticals had a negative return on equity of 76.13% and a negative net margin of 485.95%. As a group, equities research analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Eyepoint Pharmaceuticals news, insider Ramiro Ribeiro sold 42,544 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were 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 Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.46% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC boosted its stake in shares of Eyepoint Pharmaceuticals by 1,636.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock worth $27,000 after acquiring an additional 2,733 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Eyepoint Pharmaceuticals during the third quarter worth $50,000. Russell Investments Group Ltd. acquired a new stake in shares of Eyepoint Pharmaceuticals in the third quarter valued at about $76,000. Tower Research Capital LLC TRC boosted its position 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 during the last quarter. Finally, R Squared Ltd purchased a new stake in Eyepoint Pharmaceuticals during the 2nd quarter valued at about $100,000. 99.41% of the stock is owned by hedge funds and other institutional investors.

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.