Eyepoint Pharmaceuticals (NASDAQ:EYPT) Issues Earnings Results, Misses Estimates By $0.09 EPS

Eyepoint Pharmaceuticals (NASDAQ:EYPT) announced its quarterly earnings results on Wednesday. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.00) by ($0.09), Zacks reports. Eyepoint Pharmaceuticals had a negative net margin of 3,566.63% and a negative return on equity of 110.54%. The firm had revenue of $0.51 million for the quarter, compared to analyst estimates of $0.39 million.

Eyepoint Pharmaceuticals Trading Up 4.7%

EYPT traded up $0.58 on Thursday, reaching $12.83. The company had a trading volume of 2,240,675 shares, compared to its average volume of 1,280,056. Eyepoint Pharmaceuticals has a one year low of $9.65 and a one year high of $19.11. The company has a market capitalization of $1.08 billion, a P/E ratio of -3.67 and a beta of 1.76. The company has a fifty day moving average of $13.12 and a 200-day moving average of $13.79.

Analysts Set New Price Targets

EYPT has been the subject of a number of analyst reports. Stifel Nicolaus initiated coverage on shares of Eyepoint Pharmaceuticals in a research note on Thursday, July 16th. They set a “buy” rating and a $40.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Friday, July 17th. HC Wainwright reduced their price objective on Eyepoint Pharmaceuticals from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday. Cantor Fitzgerald increased their price objective on Eyepoint Pharmaceuticals from $47.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Chardan Capital raised their target price on Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.38.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new position in shares of Eyepoint Pharmaceuticals during the 3rd quarter valued at $76,000. Tower Research Capital LLC TRC raised its position in Eyepoint Pharmaceuticals by 218.3% in 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. California State Teachers Retirement System boosted its position in shares of Eyepoint Pharmaceuticals by 20.6% during the 4th quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock valued at $85,000 after purchasing an additional 794 shares in the last quarter. Persistent Asset Partners Ltd acquired a new position in shares of Eyepoint Pharmaceuticals in the 4th quarter worth approximately $98,000. Finally, Raymond James Financial Inc. raised its holdings in shares of Eyepoint Pharmaceuticals by 11.0% in the 2nd quarter. Raymond James Financial Inc. now owns 11,900 shares of the company’s stock worth $112,000 after purchasing an additional 1,177 shares in the last quarter. Institutional investors and hedge funds own 99.41% of the company’s stock.

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.