EyePoint Pharmaceuticals (NASDAQ:EYPT) Reaches New 52-Week Low - Time to Sell?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report)'s stock price reached a new 52-week low on Wednesday . The stock traded as low as $6.55 and last traded at $8.10, with a volume of 1428357 shares traded. The stock had previously closed at $7.62.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Robert W. Baird lowered their target price on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an "outperform" rating for the company in a research note on Monday, November 11th. Citigroup initiated coverage on shares of EyePoint Pharmaceuticals in a research report on Tuesday, January 7th. They set a "buy" rating and a $33.00 target price on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 price target on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. Scotiabank assumed coverage on EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They issued a "sector outperform" rating and a $18.00 price target for the company. Finally, Chardan Capital reaffirmed a "buy" rating and set a $33.00 price target on shares of EyePoint Pharmaceuticals in a research note on Thursday. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $26.63.

EyePoint Pharmaceuticals Trading Down 2.0 %

The stock has a market cap of $442.94 million, a P/E ratio of -3.25 and a beta of 1.51. The company's fifty day simple moving average is $7.87 and its 200-day simple moving average is $8.80.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.54) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.48) by ($0.06). The business had revenue of $10.52 million during the quarter, compared to the consensus estimate of $12.35 million. EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. As a group, analysts expect that EyePoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. lifted its holdings in shares of EyePoint Pharmaceuticals by 9.9% during the third quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company's stock worth $32,056,000 after buying an additional 362,399 shares in the last quarter. Patient Square Capital LP bought a new position in shares of EyePoint Pharmaceuticals during the third quarter worth approximately $10,882,000. Geode Capital Management LLC raised its position in shares of EyePoint Pharmaceuticals by 16.1% in the third quarter. Geode Capital Management LLC now owns 1,199,056 shares of the company's stock valued at $9,583,000 after buying an additional 166,699 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of EyePoint Pharmaceuticals by 1,171.3% in the third quarter. JPMorgan Chase & Co. now owns 371,758 shares of the company's stock valued at $2,970,000 after buying an additional 342,516 shares during the period. Finally, Barclays PLC grew its position in EyePoint Pharmaceuticals by 410.4% during the third quarter. Barclays PLC now owns 245,045 shares of the company's stock worth $1,959,000 after buying an additional 197,033 shares in the last quarter. 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.