EyePoint Pharmaceuticals (NASDAQ:EYPT) Trading Down 5.4% - What's Next?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) dropped 5.4% during trading on Monday . The stock traded as low as $11.30 and last traded at $11.41. Approximately 66,126 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 943,198 shares. The stock had previously closed at $12.06.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EYPT. Scotiabank began coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a "sector outperform" rating and a $18.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an "overweight" rating for the company in a report on Tuesday, August 13th. StockNews.com raised shares of EyePoint Pharmaceuticals to a "sell" rating in a research report on Saturday, September 21st. Jefferies Financial Group assumed coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They set a "buy" rating and a $15.00 price target on the stock. Finally, HC Wainwright reissued a "buy" rating and set a $30.00 price target on shares of EyePoint Pharmaceuticals in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to data from MarketBeat, EyePoint Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $29.00.

EyePoint Pharmaceuticals Stock Down 3.0 %

The stock's 50-day simple moving average is $9.22 and its 200 day simple moving average is $10.16. The company has a market cap of $626.16 million, a price-to-earnings ratio of -6.54 and a beta of 1.50.

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.55) by ($0.03). The business had revenue of $9.48 million for the quarter, compared to analyst estimates of $11.61 million. EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. On average, sell-side analysts expect that EyePoint Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Institutional Trading of EyePoint Pharmaceuticals

Large investors have recently made changes to their positions in the company. Essex Investment Management Co. LLC increased its stake in shares of EyePoint Pharmaceuticals by 234.2% during the third quarter. Essex Investment Management Co. LLC now owns 142,144 shares of the company's stock worth $1,136,000 after buying an additional 99,606 shares during the period. Deerfield Management Company L.P. Series C increased its stake in shares of EyePoint Pharmaceuticals by 51.4% during the second quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company's stock worth $7,637,000 after buying an additional 298,196 shares during the period. Cubist Systematic Strategies LLC increased its stake in shares of EyePoint Pharmaceuticals by 842.5% during the second quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company's stock worth $4,143,000 after buying an additional 425,717 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of 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 buying an additional 3,780 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of EyePoint Pharmaceuticals by 112.5% during the second quarter. Renaissance Technologies LLC now owns 152,800 shares of the company's stock worth $1,329,000 after buying an additional 80,900 shares during the period. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

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.