EyePoint Pharmaceuticals (NASDAQ:EYPT) Trading Up 9.7% – Time to Buy?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) was up 9.7% during trading on Monday . The stock traded as high as $9.80 and last traded at $9.69. Approximately 359,405 shares were traded during mid-day trading, a decline of 61% from the average daily volume of 920,297 shares. The stock had previously closed at $8.83.

Analyst Ratings Changes

Several equities research analysts have commented on EYPT shares. StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. Chardan Capital reissued a “buy” rating and issued a $28.00 price objective on shares of EyePoint Pharmaceuticals in a report on Friday, June 28th. JPMorgan Chase & Co. cut 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. Cantor Fitzgerald reissued an “overweight” rating on shares of EyePoint Pharmaceuticals in a report on Thursday, June 20th. Finally, Jefferies Financial Group initiated coverage on EyePoint Pharmaceuticals in a report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price objective for the company. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.57.

EyePoint Pharmaceuticals Stock Performance

The firm has a fifty day simple moving average of $8.50 and a 200-day simple moving average of $11.24. The firm has a market cap of $529.69 million, a price-to-earnings ratio of -5.25 and a beta of 1.57.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in EyePoint Pharmaceuticals by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock worth $49,530,000 after buying an additional 362,168 shares during the period. RA Capital Management L.P. bought a new position in EyePoint Pharmaceuticals during the 1st quarter worth $19,401,000. Deerfield Management Company L.P. Series C increased its position in EyePoint Pharmaceuticals by 51.4% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock worth $7,637,000 after buying an additional 298,196 shares during the period. Fiera Capital Corp increased its position in EyePoint Pharmaceuticals by 0.9% during the 2nd quarter. Fiera Capital Corp now owns 677,038 shares of the company’s stock worth $5,890,000 after buying an additional 5,920 shares during the period. Finally, Perceptive Advisors LLC increased its position in EyePoint Pharmaceuticals by 8.6% during the 2nd quarter. Perceptive Advisors LLC now owns 640,274 shares of the company’s stock worth $5,570,000 after buying an additional 50,628 shares during the period. Institutional investors 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.