Eyepoint Pharmaceuticals (NASDAQ:EYPT) Trading 8.6% Higher - Here's What Happened
Eyepoint Pharmaceuticals (NASDAQ:EYPT) shares rose 8.6% to $12.58, with a decline in trading volume. Analysts have given a "Moderate Buy" rating, with price targets ranging from $23 to $39. The company reported a quarterly EPS of ($0.85), missing estimates, and revenue of $0.97 million. Institutional investors have adjusted their positions, owning 99.41% of the stock. Eyepoint focuses on therapeutics for retinal diseases using Durasert E technology.
Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) shares shot up 8.6% on Monday . The company traded as high as $12.46 and last traded at $12.58. 292,616 shares were traded during mid-day trading, a decline of 68% from the average session volume of 911,497 shares. The stock had previously closed at $11.58.
Wall Street Analyst Weigh In
- Breakout Momentum Plays You May Not Know About
Several research firms recently weighed in on EYPT. HC Wainwright raised their price objective on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, August 6th. Chardan Capital restated a "buy" rating and issued a $27.00 price target on shares of Eyepoint Pharmaceuticals in a research report on Thursday, August 7th. Mizuho set a $28.00 price objective on shares of Eyepoint Pharmaceuticals in a research report on Monday, October 20th. Royal Bank Of Canada increased their price objective on shares of Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the company an "outperform" rating in a research note on Thursday, November 6th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.00.
Get Our Latest Stock Report on Eyepoint Pharmaceuticals
Eyepoint Pharmaceuticals Trading Up 12.3%
The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -4.84 and a beta of 1.85. The firm's 50 day moving average is $12.76 and its two-hundred day moving average is $10.49.
Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.85) EPS 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 analysts' expectations of $3.33 million. Eyepoint Pharmaceuticals had a negative return on equity of 63.80% and a negative net margin of 337.93%. As a group, equities analysts expect that Eyepoint Pharmaceuticals, Inc. will post -2.13 EPS for the current fiscal year.
Institutional Investors Weigh In On Eyepoint Pharmaceuticals
Hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC increased its stake in Eyepoint Pharmaceuticals by 1,636.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company's stock valued at $27,000 after purchasing an additional 2,733 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Eyepoint Pharmaceuticals in the 3rd quarter valued at about $50,000. Russell Investments Group Ltd. acquired a new position in shares of Eyepoint Pharmaceuticals during the 3rd quarter valued at about $76,000. Tower Research Capital LLC TRC lifted its holdings in shares of Eyepoint Pharmaceuticals by 218.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company's stock worth $82,000 after acquiring an additional 5,967 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of Eyepoint Pharmaceuticals in the second quarter worth approximately $100,000. Institutional investors and hedge funds own 99.41% of the company's stock.
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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