Eyepoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 6.2% – Here’s What Happened

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s stock price dropped 6.2% during mid-day trading on Tuesday . The company traded as low as $17.90 and last traded at $17.6760. Approximately 351,806 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 952,512 shares. The stock had previously closed at $18.85.

Analyst Upgrades and Downgrades

EYPT has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, October 8th. Mizuho set a $28.00 price target on Eyepoint Pharmaceuticals in a research note on Monday, October 20th. Cantor Fitzgerald raised Eyepoint Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, November 25th. Royal Bank Of Canada increased their target price on Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Finally, TD Cowen upgraded Eyepoint Pharmaceuticals to a “strong-buy” rating in a report on Friday, December 19th. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Eyepoint Pharmaceuticals presently has an average rating of “Buy” and a consensus target price of $30.00.

Eyepoint Pharmaceuticals Stock Performance

The company has a market capitalization of $1.51 billion, a PE ratio of -6.10 and a beta of 1.67. The business has a fifty day moving average price of $14.05 and a 200 day moving average price of $12.26.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its earnings results on Wednesday, November 5th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.08). The business had revenue of $0.97 million for 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%. Research analysts forecast that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current fiscal year.

Institutional Trading of Eyepoint Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC lifted its stake in shares of Eyepoint Pharmaceuticals by 1,636.5% during the second 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 in the last quarter. State of Alaska Department of Revenue purchased a new position in Eyepoint Pharmaceuticals in the 3rd quarter worth approximately $50,000. Russell Investments Group Ltd. acquired a new stake in Eyepoint Pharmaceuticals in the third quarter valued at approximately $76,000. Tower Research Capital LLC TRC lifted its position in shares of Eyepoint Pharmaceuticals by 218.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock worth $82,000 after purchasing an additional 5,967 shares in the last quarter. Finally, R Squared Ltd purchased a new position in shares of Eyepoint Pharmaceuticals in the second quarter valued at $100,000. 99.41% of the stock is owned by hedge funds and other 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.