EyePoint Pharmaceuticals (NASDAQ:EYPT) Reaches New 12-Month Low – What’s Next?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $6.55 and last traded at $8.10, with a volume of 1428357 shares changing hands. The stock had previously closed at $7.62.

Analyst Ratings Changes

EYPT has been the subject of several recent analyst reports. Scotiabank initiated coverage on EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 target price for the company. Citigroup initiated coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They issued a “buy” rating and a $33.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. Chardan Capital upped their target price on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Robert W. Baird cut their target price on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, EyePoint Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $26.63.

EyePoint Pharmaceuticals Trading Up 9.0 %

The company has a market cap of $566.82 million, a PE ratio of -4.15 and a beta of 1.51. The business has a fifty day moving average of $7.99 and a 200-day moving average of $8.84.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.06). EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. The business had revenue of $10.52 million during the quarter, compared to the consensus estimate of $12.35 million. As a group, research analysts predict that EyePoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Several hedge funds have recently made changes to their positions in EYPT. Essex Investment Management Co. LLC lifted its stake in shares of EyePoint Pharmaceuticals by 234.2% in the third quarter. Essex Investment Management Co. LLC now owns 142,144 shares of the company’s stock worth $1,136,000 after buying an additional 99,606 shares in the last quarter. Geode Capital Management LLC lifted its stake in EyePoint Pharmaceuticals by 16.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,199,056 shares of the company’s stock worth $9,583,000 after acquiring an additional 166,699 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in EyePoint Pharmaceuticals by 5.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 142,763 shares of the company’s stock valued at $1,141,000 after buying an additional 7,967 shares during the period. Barclays PLC grew its stake in EyePoint Pharmaceuticals by 410.4% during the 3rd quarter. Barclays PLC now owns 245,045 shares of the company’s stock worth $1,959,000 after purchasing an additional 197,033 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of EyePoint Pharmaceuticals by 1,171.3% during the third quarter. JPMorgan Chase & Co. now owns 371,758 shares of the company’s stock worth $2,970,000 after purchasing an additional 342,516 shares in the last quarter. 99.41% of the stock is owned by institutional investors and hedge funds.

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.