EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Up 6.6%

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s share price rose 6.6% during mid-day trading on Friday . The company traded as high as $9.47 and last traded at $9.47. Approximately 80,835 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 962,563 shares. The stock had previously closed at $8.88.

Analysts Set New Price Targets

A number of brokerages recently weighed in on EYPT. Cantor Fitzgerald reissued an “overweight” rating on shares of EyePoint Pharmaceuticals in a report on Thursday, June 20th. HC Wainwright restated a “buy” rating and issued a $30.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, June 27th. StockNews.com raised shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Thursday, September 5th. Jefferies Financial Group began coverage on EyePoint Pharmaceuticals in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.63.

EyePoint Pharmaceuticals Stock Performance

The company has a market capitalization of $491.31 million, a P/E ratio of -5.13 and a beta of 1.59. The stock’s fifty day moving average price is $8.87 and its 200-day moving average price is $13.68.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). The business had revenue of $9.48 million for the quarter, compared to analyst estimates of $11.61 million. EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. On average, research analysts predict that EyePoint Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other EyePoint Pharmaceuticals news, Director David R. Guyer sold 11,625 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $10.06, for a total transaction of $116,947.50. Following the transaction, the director now owns 1,850 shares in the company, valued at approximately $18,611. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.74% of the company’s stock.

Institutional Trading of EyePoint Pharmaceuticals

Several large investors have recently made changes to their positions in EYPT. Ameritas Investment Partners Inc. lifted its stake in EyePoint Pharmaceuticals by 44.0% in the first quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock valued at $77,000 after buying an additional 1,136 shares during the period. Greenwich Wealth Management LLC bought a new position in EyePoint Pharmaceuticals during the 2nd quarter worth approximately $94,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of EyePoint Pharmaceuticals by 271.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock worth $95,000 after acquiring an additional 7,953 shares during the period. Arizona State Retirement System lifted its holdings in shares of EyePoint Pharmaceuticals by 9.7% during the second quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $115,000 after purchasing an additional 1,171 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its stake in shares of EyePoint Pharmaceuticals by 129.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 9,393 shares of the company’s stock worth $194,000 after purchasing an additional 5,308 shares during the last quarter. Institutional investors and hedge funds own 99.41% of the company’s stock.

About EyePoint Pharmaceuticals

EyePoint Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing therapeutics to improve the lives of patients with serious retinal diseases. The company's pipeline leverages its proprietary bioerodible Durasert E technology for sustained intraocular drug delivery.