EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Up 7.4% – Should You Buy?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) rose 7.4% on Friday . The company traded as high as $7.15 and last traded at $7.32. Approximately 55,958 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 832,894 shares. The stock had previously closed at $6.82.

Wall Street Analysts Forecast Growth

Several brokerages have commented on EYPT. Robert W. Baird cut their target price on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday. Chardan Capital reissued a “buy” rating and set a $33.00 target price on shares of EyePoint Pharmaceuticals in a research report on Thursday. Finally, Citigroup began coverage on shares of EyePoint Pharmaceuticals in a research report on Tuesday, January 7th. They issued a “buy” rating and a $33.00 price target on the stock. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.63.

EyePoint Pharmaceuticals Stock Performance

The company has a market capitalization of $500.89 million, a price-to-earnings ratio of -3.70 and a beta of 1.51. The company has a 50 day moving average price of $7.27 and a 200 day moving average price of $8.47.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Wednesday, March 5th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $11.60 million for the quarter, compared to analyst estimates of $11.02 million. Research analysts forecast that EyePoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Institutional Trading of EyePoint Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc grew its holdings in EyePoint Pharmaceuticals by 4.4% during the fourth quarter. Legal & General Group Plc now owns 46,263 shares of the company’s stock worth $345,000 after buying an additional 1,932 shares in the last quarter. Summit Investment Advisors Inc. grew its position in EyePoint Pharmaceuticals by 39.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 6,838 shares of the company’s stock worth $51,000 after purchasing an additional 1,940 shares in the last quarter. Invesco Ltd. increased its stake in EyePoint Pharmaceuticals by 16.1% in the 4th quarter. Invesco Ltd. now owns 15,657 shares of the company’s stock valued at $117,000 after buying an additional 2,177 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of EyePoint Pharmaceuticals by 22.4% during the 4th quarter. Teacher Retirement System of Texas now owns 15,192 shares of the company’s stock worth $113,000 after buying an additional 2,782 shares in the last quarter. Finally, Swiss National Bank boosted its stake in shares of EyePoint Pharmaceuticals by 3.5% in the 4th quarter. Swiss National Bank now owns 100,000 shares of the company’s stock worth $745,000 after buying an additional 3,400 shares during the last quarter. 99.41% of the stock is 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.