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

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) gapped up before the market opened 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.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EYPT shares. Royal Bank Of Canada lifted their target price on Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Cantor Fitzgerald raised Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, November 25th. TD Cowen upgraded Eyepoint Pharmaceuticals to a “strong-buy” rating in a report on Friday, December 19th. Mizuho set a $28.00 price target on shares of Eyepoint Pharmaceuticals in a report on Monday, October 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, October 8th. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $29.25.

Eyepoint Pharmaceuticals Stock Up 2.8%

The firm’s 50 day moving average price is $15.65 and its two-hundred day moving average price is $13.12. The firm has a market capitalization of $1.35 billion, a PE ratio of -5.48 and a beta of 1.63.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.85) 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 analyst estimates of $3.33 million. Eyepoint Pharmaceuticals had a negative return on equity of 76.13% and a negative net margin of 485.95%. On average, sell-side analysts anticipate that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Ramiro Ribeiro sold 42,544 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $17.10, for a total value of $727,502.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.46% of the company’s stock.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in EYPT. Janney Montgomery Scott LLC bought a new stake in shares of Eyepoint Pharmaceuticals in the second quarter worth $114,000. Aberdeen Group plc grew its holdings in Eyepoint Pharmaceuticals by 346.9% during the 2nd quarter. Aberdeen Group plc now owns 1,031,201 shares of the company’s stock worth $9,704,000 after acquiring an additional 800,456 shares in the last quarter. R Squared Ltd bought a new stake in shares of Eyepoint Pharmaceuticals in the 2nd quarter worth about $100,000. Nisa Investment Advisors LLC increased its position in shares of 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. Finally, Franklin Resources Inc. raised its stake in shares of Eyepoint Pharmaceuticals by 3.6% in the 2nd quarter. Franklin Resources Inc. now owns 4,301,123 shares of the company’s stock valued at $40,474,000 after purchasing an additional 151,262 shares in the last quarter. 99.41% of the stock is currently 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.