EyePoint Pharmaceuticals (NASDAQ:EYPT) Sees Unusually-High Trading Volume – Should You Buy?

by · The Markets Daily

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT – Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 558,192 shares were traded during 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.

Analysts Set New Price Targets

Several equities analysts recently issued reports on EYPT shares. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Friday, October 25th. Jefferies Financial Group started coverage on EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target for the company. StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. JPMorgan Chase & Co. cut their price target on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Finally, Chardan Capital reiterated a “buy” rating and issued a $28.00 price target on shares of EyePoint Pharmaceuticals in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, EyePoint Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Check Out Our Latest Analysis on EYPT

EyePoint Pharmaceuticals Stock Performance

The firm has a 50 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 announced 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). EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. The business had revenue of $9.48 million during the quarter, compared to the consensus estimate of $11.61 million. Analysts forecast that EyePoint Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Greenwich Wealth Management LLC grew its holdings in shares of EyePoint Pharmaceuticals by 8.3% during 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 in the last quarter. Ameritas Investment Partners Inc. grew its stake in EyePoint Pharmaceuticals by 44.0% in the first quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock valued at $77,000 after purchasing an additional 1,136 shares in the last quarter. Arizona State Retirement System grew its stake in 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 grew its stake in EyePoint Pharmaceuticals by 1.5% in the first quarter. Essex Investment Management Co. LLC now owns 149,819 shares of the company’s stock valued at $3,097,000 after purchasing an additional 2,278 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in EyePoint Pharmaceuticals by 26.5% in the first quarter. Janney Montgomery Scott LLC now owns 18,040 shares of the company’s stock valued at $373,000 after purchasing an additional 3,780 shares in the last quarter. 99.41% of the stock is currently owned by 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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