EyePoint Pharmaceuticals (NASDAQ:EYPT) Releases Earnings Results, Misses Estimates By $0.10 EPS

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.10), Zacks reports. EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. The company had revenue of $11.60 million during the quarter, compared to analyst estimates of $11.02 million.

EyePoint Pharmaceuticals Stock Performance

EyePoint Pharmaceuticals stock traded up $0.31 during mid-day trading on Friday, reaching $7.13. The stock had a trading volume of 770,148 shares, compared to its average volume of 850,040. EyePoint Pharmaceuticals has a fifty-two week low of $5.54 and a fifty-two week high of $26.06. The stock's 50-day simple moving average is $7.25 and its 200-day simple moving average is $8.46. The firm has a market capitalization of $486.63 million, a PE ratio of -3.57 and a beta of 1.41.

Wall Street Analysts Forecast Growth

EYPT has been the subject of several recent analyst reports. Chardan Capital reaffirmed a "buy" rating and set a $33.00 target price on shares of EyePoint Pharmaceuticals in a research note on Thursday. HC Wainwright reaffirmed a "buy" rating and set a $22.00 target price on shares of EyePoint Pharmaceuticals in a research note on Thursday. Robert W. Baird decreased their target price on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an "outperform" rating for the company in a research note on Monday, November 11th. Finally, Citigroup initiated coverage on EyePoint Pharmaceuticals in a research note on Tuesday, January 7th. They set a "buy" rating and a $33.00 target price for the company. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to MarketBeat.com, EyePoint Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $26.63.

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EyePoint Pharmaceuticals Company Profile

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.