Eyepoint Pharmaceuticals (NASDAQ:EYPT) Sets New 12-Month High – Here’s What Happened

by · The Cerbat Gem

Shares of Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT – Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $15.72 and last traded at $16.4550, with a volume of 250111 shares. The stock had previously closed at $14.52.

Analysts Set New Price Targets

A number of equities analysts have commented on EYPT shares. Chardan Capital reaffirmed a “buy” rating and set a $27.00 price objective on shares of Eyepoint Pharmaceuticals in a research report on Thursday, August 7th. Mizuho set a $28.00 price objective on Eyepoint Pharmaceuticals in a report on Monday, October 20th. Royal Bank Of Canada lifted their target price on Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, October 8th. Finally, HC Wainwright boosted their price objective on shares of Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Eyepoint Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $30.00.

View Our Latest Analysis on Eyepoint Pharmaceuticals

Eyepoint Pharmaceuticals Stock Up 13.2%

The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -5.52 and a beta of 1.67. The business’s 50 day simple moving average is $12.93 and its 200-day simple moving average is $11.18.

Eyepoint Pharmaceuticals (NASDAQ:EYPT – Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.08). The firm had revenue of $0.97 million for the quarter, compared to the consensus estimate of $3.33 million. Eyepoint Pharmaceuticals had a negative return on equity of 76.13% and a negative net margin of 485.95%. On average, analysts expect that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

Institutional Trading of Eyepoint Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of EYPT. Paradigm Biocapital Advisors LP bought a new position in shares of Eyepoint Pharmaceuticals in the third quarter worth about $28,556,000. Millennium Management LLC lifted its stake in shares of Eyepoint Pharmaceuticals by 1,166.2% in the third quarter. Millennium Management LLC now owns 483,054 shares of the company’s stock worth $6,879,000 after acquiring an additional 444,905 shares during the period. Granahan Investment Management LLC boosted its holdings in Eyepoint Pharmaceuticals by 2.0% in the third quarter. Granahan Investment Management LLC now owns 347,892 shares of the company’s stock valued at $4,954,000 after acquiring an additional 6,908 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in Eyepoint Pharmaceuticals during the 3rd quarter valued at approximately $864,000. Finally, Bank of America Corp DE lifted its position in shares of Eyepoint Pharmaceuticals by 24.1% in the 3rd quarter. Bank of America Corp DE now owns 1,010,331 shares of the company’s stock worth $14,387,000 after purchasing an additional 196,178 shares during the period. 99.41% of the stock is currently owned by institutional investors.

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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