Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) fell 6.5% on Tuesday . The stock traded as low as $11.24 and last traded at $11.33. 727,692 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 923,944 shares. The stock had previously closed at $12.12.
Wall Street Analysts Forecast Growth
EYPT has been the topic of several analyst reports. HC Wainwright reiterated a "buy" rating and issued a $30.00 target price on shares of EyePoint Pharmaceuticals in a research note on Friday. Jefferies Financial Group assumed coverage on EyePoint Pharmaceuticals in a report on Wednesday, August 28th. They set a "buy" rating and a $15.00 price target on the stock. StockNews.com raised EyePoint Pharmaceuticals to a "sell" rating in a research report on Saturday, September 21st. JPMorgan Chase & Co. decreased their target price on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an "overweight" rating for the company in a research report on Tuesday, August 13th. Finally, Scotiabank began coverage on EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a "sector outperform" rating and a $18.00 target price for the company. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $29.00.
Get Our Latest Stock Analysis on EYPT
EyePoint Pharmaceuticals Trading Down 4.8 %
The firm has a market capitalization of $617.62 million, a PE ratio of -6.45 and a beta of 1.57. The stock's 50 day moving average price is $9.06 and its two-hundred day moving average price is $10.37.
EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.58) EPS for the quarter, missing analysts' consensus estimates of ($0.55) by ($0.03). EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. The firm had revenue of $9.48 million during the quarter, compared to analysts' expectations of $11.61 million. Analysts expect that EyePoint Pharmaceuticals, Inc. will post -2.33 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Greenwich Wealth Management LLC boosted its position in shares of EyePoint Pharmaceuticals by 8.3% in the third quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company's stock worth $93,000 after buying an additional 900 shares during the period. Ameritas Investment Partners Inc. increased its stake in EyePoint Pharmaceuticals by 44.0% during the first quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company's stock valued at $77,000 after acquiring an additional 1,136 shares during the period. Arizona State Retirement System raised its stake in shares of EyePoint Pharmaceuticals by 9.7% in the second quarter. Arizona State Retirement System now owns 13,251 shares of the company's stock valued at $115,000 after purchasing an additional 1,171 shares in the last quarter. Essex Investment Management Co. LLC raised its stake in shares of EyePoint Pharmaceuticals by 1.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 149,819 shares of the company's stock valued at $3,097,000 after buying an additional 2,278 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in EyePoint Pharmaceuticals by 26.5% during the first quarter. Janney Montgomery Scott LLC now owns 18,040 shares of the company's stock worth $373,000 after purchasing an additional 3,780 shares during the period. Institutional investors and hedge funds own 99.41% of the company's stock.
About EyePoint Pharmaceuticals
(
Get Free Report)
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.
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