EyePoint Pharmaceuticals (NASDAQ:EYPT) Issues Earnings Results, Misses Estimates By $0.03 EPS

EyePoint Pharmaceuticals (NASDAQ:EYPT) posted its quarterly earnings data on Wednesday. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.55) by ($0.03), Zacks reports. EyePoint Pharmaceuticals had a negative return on equity of 49.94% and a negative net margin of 157.77%. The firm had revenue of $9.48 million for the quarter, compared to analysts’ expectations of $11.61 million.

EyePoint Pharmaceuticals Stock Performance

EyePoint Pharmaceuticals stock traded down $0.41 during trading hours on Friday, hitting $8.75. 858,601 shares of the stock were exchanged, compared to its average volume of 799,255. The stock has a market capitalization of $455.74 million, a P/E ratio of -4.81 and a beta of 1.58. EyePoint Pharmaceuticals has a 12 month low of $5.67 and a 12 month high of $30.99. The business’s 50-day moving average is $9.08 and its two-hundred day moving average is $16.81.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EYPT. Mizuho lowered their price objective on shares of EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. Robert W. Baird reduced their price objective on shares of EyePoint Pharmaceuticals from $46.00 to $38.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Chardan Capital reaffirmed a “buy” rating and issued a $28.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Friday, June 28th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of EyePoint Pharmaceuticals in a research note on Thursday, June 20th. Finally, StockNews.com lowered shares of EyePoint Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, EyePoint Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $33.29.

Insiders Place Their Bets

In other EyePoint Pharmaceuticals news, Director David R. Guyer sold 11,625 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $10.06, for a total transaction of $116,947.50. Following the sale, the director now directly owns 1,850 shares of the company’s stock, valued at $18,611. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.74% 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.