EyePoint Pharmaceuticals (NASDAQ:EYPT) Trading 6.1% Higher - Should You Buy?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) traded up 6.1% during mid-day trading on Wednesday . The company traded as high as $8.09 and last traded at $8.10. 150,780 shares were traded during trading, a decline of 81% from the average session volume of 779,172 shares. The stock had previously closed at $7.63.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on EYPT. Citigroup began coverage on EyePoint Pharmaceuticals in a research note on Tuesday, January 7th. They issued a "buy" rating and a $33.00 price objective on the stock. Chardan Capital upped their target price on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a "buy" rating in a report on Friday, November 8th. Robert W. Baird cut their price objective on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an "outperform" rating on the stock in a report on Monday, November 11th. Scotiabank started coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They issued a "sector outperform" rating and a $18.00 target price on the stock. Finally, HC Wainwright restated a "buy" rating and issued a $22.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $26.63.

EyePoint Pharmaceuticals Price Performance

The company has a fifty day simple moving average of $8.20 and a two-hundred day simple moving average of $8.94. The company has a market capitalization of $595.14 million, a P/E ratio of -4.36 and a beta of 1.49.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last announced its earnings results 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). EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. The company had revenue of $10.52 million for the quarter, compared to the consensus estimate of $12.35 million. Equities analysts anticipate that EyePoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

Institutional Trading of EyePoint Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in EYPT. Cyndeo Wealth Partners LLC boosted its holdings in EyePoint Pharmaceuticals by 35.5% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 16,990 shares of the company's stock valued at $127,000 after purchasing an additional 4,450 shares during the period. JPMorgan Chase & Co. raised its position in shares of EyePoint Pharmaceuticals by 1,171.3% during 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 last quarter. Franklin Resources Inc. lifted its stake in shares of EyePoint Pharmaceuticals by 9.9% in the third quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company's stock valued at $32,056,000 after buying an additional 362,399 shares during the period. Geode Capital Management LLC lifted its stake 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 during the period. Finally, Barclays PLC increased its stake in EyePoint Pharmaceuticals by 410.4% during the third quarter. Barclays PLC now owns 245,045 shares of the company's stock valued at $1,959,000 after acquiring an additional 197,033 shares during the period. Institutional investors own 99.41% of the company's stock.

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.