Eyepoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 4.7% After Earnings Miss

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s stock price traded down 4.7% on Wednesday following a dissappointing earnings announcement. The company traded as low as $17.21 and last traded at $17.45. 651,042 shares traded hands during trading, a decline of 53% from the average session volume of 1,392,438 shares. The stock had previously closed at $18.32.

The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.03). The firm had revenue of $0.62 million for the quarter, compared to analyst estimates of $1.01 million. Eyepoint Pharmaceuticals had a negative return on equity of 93.46% and a negative net margin of 739.39%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Cantor Fitzgerald raised Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, November 25th. Royal Bank Of Canada upped their price target on shares of Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Chardan Capital lifted their price objective on shares of Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday. HC Wainwright upped their target price on Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $31.50.

Insider Buying and Selling

In other news, insider Ramiro Ribeiro sold 42,544 shares of Eyepoint Pharmaceuticals stock in a transaction on Monday, January 5th. The shares were sold at an average price of $17.10, for a total transaction of $727,502.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.46% of the stock is currently owned by corporate insiders.

Institutional Trading of Eyepoint Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in EYPT. Nisa Investment Advisors LLC raised its holdings in Eyepoint Pharmaceuticals by 1,636.5% during 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. State of Alaska Department of Revenue bought a new stake in Eyepoint Pharmaceuticals during the third quarter valued at $50,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Eyepoint Pharmaceuticals by 51.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock worth $74,000 after acquiring an additional 1,358 shares during the period. Russell Investments Group Ltd. acquired a new stake in Eyepoint Pharmaceuticals during the 3rd quarter worth about $76,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Eyepoint Pharmaceuticals by 218.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock valued at $82,000 after purchasing an additional 5,967 shares during the period. 99.41% of the stock is currently owned by institutional investors.

Eyepoint Pharmaceuticals Trading Up 0.9%

The company has a market cap of $1.32 billion, a P/E ratio of -5.03 and a beta of 1.72. The firm has a 50-day moving average of $15.71 and a 200 day moving average of $14.32.

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.