Eyepoint Pharmaceuticals (NASDAQ:EYPT) Shares Up 6.5% – Time to Buy?

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) traded up 6.5% on Tuesday . The company traded as high as $12.82 and last traded at $12.8710. 915,686 shares traded hands during trading, a decline of 21% from the average daily volume of 1,164,116 shares. The stock had previously closed at $12.08.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank Of Canada decreased their target price on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. HC Wainwright upped their price target on Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Chardan Capital increased their price objective on Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Tuesday, April 21st. Finally, Citigroup raised 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. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Eyepoint Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $31.80.

Eyepoint Pharmaceuticals Price Performance

The stock’s 50 day simple moving average is $13.28 and its two-hundred day simple moving average is $14.66. The firm has a market cap of $1.14 billion, a P/E ratio of -3.88 and a beta of 1.72.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.99) EPS for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.20). The company had revenue of $0.70 million during the quarter, compared to the consensus estimate of $0.35 million. Eyepoint Pharmaceuticals had a negative return on equity of 110.54% and a negative net margin of 3,566.63%. Equities research analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -3.09 earnings per share for the current year.

Insider Activity

In related news, insider Ramiro Ribeiro sold 2,437 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $15.00, for a total value of $36,555.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Stempoint Capital LP grew its holdings in shares of Eyepoint Pharmaceuticals by 129.1% during the first quarter. Stempoint Capital LP now owns 810,764 shares of the company’s stock valued at $10,451,000 after buying an additional 456,915 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Eyepoint Pharmaceuticals by 22.6% in the 1st quarter. Janus Henderson Group PLC now owns 3,601,168 shares of the company’s stock worth $46,419,000 after acquiring an additional 663,439 shares during the last quarter. California State Teachers Retirement System lifted its position in Eyepoint Pharmaceuticals by 2,158.3% in the 1st quarter. California State Teachers Retirement System now owns 105,101 shares of the company’s stock valued at $1,355,000 after acquiring an additional 100,447 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Eyepoint Pharmaceuticals by 58.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 36,072 shares of the company’s stock valued at $465,000 after acquiring an additional 13,297 shares in the last quarter. Finally, Commodore Capital LP purchased a new stake in Eyepoint Pharmaceuticals during the 1st quarter valued at $36,414,000. 99.41% of the stock is owned by hedge funds and other institutional investors.

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.