Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 558,192 shares changed hands during mid-day trading, a decline of 40% from the previous session's volume of 926,773 shares.The stock last traded at $11.20 and had previously closed at $11.54.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. StockNews.com raised EyePoint Pharmaceuticals to a "sell" rating in a research report on Saturday, September 21st. HC Wainwright reaffirmed a "buy" rating and issued a $30.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Friday, October 25th. Jefferies Financial Group began coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They set a "buy" rating and a $15.00 target price on the stock. Scotiabank assumed coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They set a "sector outperform" rating and a $18.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their target price on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an "overweight" rating for the company in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $29.00.
Read Our Latest Research Report on EYPT
EyePoint Pharmaceuticals Stock Performance
The stock has a market cap of $613.34 million, a PE ratio of -6.40 and a beta of 1.57. The firm has a fifty day moving average price of $9.11 and a 200 day moving average price of $10.37.
EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its quarterly earnings results 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 net margin of 172.29% and a negative return on equity of 43.24%. The business had revenue of $9.48 million during the quarter, compared to analysts' expectations of $11.61 million. On average, equities research analysts forecast that EyePoint Pharmaceuticals, Inc. will post -2.33 earnings per share for the current year.
Institutional Investors Weigh In On EyePoint Pharmaceuticals
A number of large investors have recently made changes to their positions in EYPT. Essex Investment Management Co. LLC boosted its holdings in shares of EyePoint Pharmaceuticals by 234.2% in the 3rd quarter. Essex Investment Management Co. LLC now owns 142,144 shares of the company's stock valued at $1,136,000 after acquiring an additional 99,606 shares during the last quarter. Deerfield Management Company L.P. Series C grew its position in EyePoint Pharmaceuticals by 51.4% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company's stock worth $7,637,000 after purchasing an additional 298,196 shares during the period. Cubist Systematic Strategies LLC raised its stake in shares of EyePoint Pharmaceuticals by 842.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company's stock valued at $4,143,000 after buying an additional 425,717 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of EyePoint Pharmaceuticals by 26.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,040 shares of the company's stock valued at $373,000 after buying an additional 3,780 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of EyePoint Pharmaceuticals by 112.5% in 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 last quarter. 99.41% of the stock is owned by hedge funds and other institutional investors.
EyePoint Pharmaceuticals Company Profile
(
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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