Eyepoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 5.3% – Here’s Why

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s share price was down 5.3% during mid-day trading on Tuesday . The stock traded as low as $11.61 and last traded at $11.7650. Approximately 1,467,120 shares traded hands during mid-day trading, an increase of 17% from the average daily volume of 1,254,539 shares. The stock had previously closed at $12.42.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EYPT. Royal Bank Of Canada cut their target price on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Stifel Nicolaus assumed coverage on Eyepoint Pharmaceuticals in a report on Thursday, July 16th. They issued a “buy” rating and a $40.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Friday, July 17th. Chardan Capital upped their price target on shares of Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Finally, Guggenheim reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Eyepoint Pharmaceuticals in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Eyepoint Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $43.75.

Eyepoint Pharmaceuticals Trading Down 6.0%

The stock has a fifty day moving average of $13.17 and a 200-day moving average of $13.85. The firm has a market capitalization of $978.41 million, a price-to-earnings ratio of -3.33 and a beta of 1.76.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results on Wednesday, May 6th. The company reported ($0.99) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.20). The company had revenue of $0.70 million for the quarter, compared to analysts’ expectations of $0.35 million. Eyepoint Pharmaceuticals had a negative net margin of 3,566.63% and a negative return on equity of 110.54%. As a group, equities research analysts forecast that Eyepoint Pharmaceuticals, Inc. will post -3.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. KBC Group NV acquired a new stake in shares of Eyepoint Pharmaceuticals during the first quarter valued at approximately $29,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Eyepoint Pharmaceuticals by 51.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company’s stock valued at $74,000 after acquiring an additional 1,358 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Eyepoint Pharmaceuticals in the 3rd quarter worth approximately $76,000. Tower Research Capital LLC TRC boosted its stake in Eyepoint Pharmaceuticals by 218.3% in the 2nd 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 during the period. Finally, California State Teachers Retirement System grew its position in Eyepoint Pharmaceuticals by 20.6% during the 4th quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock worth $85,000 after purchasing an additional 794 shares in the last quarter. 99.41% of the stock is currently owned by institutional investors and hedge funds.

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.