Eyepoint Pharmaceuticals (NASDAQ:EYPT) Shares Up 7.8% – Should You Buy?

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares traded up 7.8% on Tuesday . The company traded as high as $14.81 and last traded at $14.7950. 557,889 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 1,161,993 shares. The stock had previously closed at $13.73.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on EYPT shares. Citigroup increased their target price on Eyepoint Pharmaceuticals from $31.00 to $35.00 and gave the company a “buy” rating in a report on Monday, March 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Tuesday, April 21st. HC Wainwright lifted their price target on Eyepoint Pharmaceuticals from $23.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Chardan Capital upped their price objective on shares of Eyepoint Pharmaceuticals from $27.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Finally, Royal Bank Of Canada lowered their target price on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Two research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $31.80.

Eyepoint Pharmaceuticals Price Performance

The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -4.16 and a beta of 1.72. The stock has a 50-day moving average of $13.26 and a 200 day moving average of $14.65.

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

Insider Activity at Eyepoint Pharmaceuticals

In related news, insider Ramiro Ribeiro sold 2,437 shares of the stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $15.00, for a total transaction of $36,555.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EYPT. Rhumbline Advisers boosted its holdings in shares of Eyepoint Pharmaceuticals by 11.0% during the 2nd quarter. Rhumbline Advisers now owns 96,280 shares of the company’s stock worth $906,000 after buying an additional 9,548 shares in the last quarter. American Century Companies Inc. grew its position in shares of Eyepoint Pharmaceuticals by 57.8% during the 2nd quarter. American Century Companies Inc. now owns 67,612 shares of the company’s stock valued at $636,000 after acquiring an additional 24,752 shares during the period. Invesco Ltd. increased its holdings in Eyepoint Pharmaceuticals by 199.8% in the 2nd quarter. Invesco Ltd. now owns 128,772 shares of the company’s stock worth $1,212,000 after acquiring an additional 85,824 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of Eyepoint Pharmaceuticals by 11.0% during the 2nd quarter. Raymond James Financial Inc. now owns 11,900 shares of the company’s stock valued at $112,000 after buying an additional 1,177 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in Eyepoint Pharmaceuticals by 9.7% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock worth $63,988,000 after buying an additional 600,000 shares during the period. 99.41% of the stock is currently owned by 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.