EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Up 7.4% - Still a Buy?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) shot up 7.4% during mid-day trading on Friday . The stock traded as high as $7.15 and last traded at $7.32. 55,958 shares were traded during mid-day trading, a decline of 93% from the average session volume of 832,894 shares. The stock had previously closed at $6.82.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Chardan Capital reissued a "buy" rating and set a $33.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, March 6th. HC Wainwright reissued a "buy" rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, March 6th. Robert W. Baird dropped 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 report on Monday, November 11th. Finally, Citigroup assumed coverage on shares of EyePoint Pharmaceuticals in a research note on Tuesday, January 7th. They issued a "buy" rating and a $33.00 price target for the company. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat, EyePoint Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $26.63.

EyePoint Pharmaceuticals Stock Performance

The company has a market cap of $501.64 million, a PE ratio of -3.68 and a beta of 1.41. The business's 50-day moving average is $7.25 and its 200 day moving average is $8.43.

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EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.10). EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. The company had revenue of $11.60 million during the quarter, compared to analysts' expectations of $11.02 million. Equities research analysts anticipate that EyePoint Pharmaceuticals, Inc. will post -2.13 EPS for the current fiscal year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Large investors have recently bought and sold shares of the stock. GSA Capital Partners LLP grew its holdings in shares of EyePoint Pharmaceuticals by 129.6% in the third quarter. GSA Capital Partners LLP now owns 32,979 shares of the company's stock worth $264,000 after purchasing an additional 18,616 shares during the last quarter. Intech Investment Management LLC purchased a new stake in EyePoint Pharmaceuticals during the 3rd quarter valued at $136,000. Charles Schwab Investment Management Inc. boosted its position in EyePoint Pharmaceuticals by 5.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 142,763 shares of the company's stock valued at $1,141,000 after buying an additional 7,967 shares during the period. Patient Square Capital LP bought a new stake in EyePoint Pharmaceuticals in the 3rd quarter worth $10,882,000. Finally, Wellington Management Group LLP increased its position in shares of EyePoint Pharmaceuticals by 59.4% in the third quarter. Wellington Management Group LLP now owns 171,764 shares of the company's stock valued at $1,372,000 after acquiring an additional 64,008 shares during the period. 99.41% of the stock is owned by hedge funds and other institutional investors.

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.