EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Down 5.4% – Here’s Why

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares were down 5.4% during mid-day trading on Monday . The stock traded as low as $11.30 and last traded at $11.41. 66,126 shares traded hands during trading, a decline of 93% from the average daily volume of 943,198 shares. The stock had previously closed at $12.06.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EYPT. Scotiabank assumed coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price target for the company. StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a research report on Saturday, September 21st. Chardan Capital reissued a “buy” rating and set a $28.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Tuesday, October 29th. JPMorgan Chase & Co. dropped their target price on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a research report on Tuesday, August 13th. Finally, HC Wainwright reiterated a “buy” rating and set a $30.00 price target on shares of EyePoint Pharmaceuticals in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

EyePoint Pharmaceuticals Price Performance

The firm has a market cap of $610.13 million, a P/E ratio of -6.49 and a beta of 1.50. The firm’s 50 day moving average is $9.32 and its 200 day moving average is $10.08.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). EyePoint Pharmaceuticals had a negative net margin of 172.29% and a negative return on equity of 43.24%. The company had revenue of $9.48 million for the quarter, compared to the consensus estimate of $11.61 million. As a group, analysts expect that EyePoint Pharmaceuticals, Inc. will post -2.33 EPS for the current year.

Institutional Trading of EyePoint Pharmaceuticals

Several institutional investors have recently bought and sold shares of EYPT. RA Capital Management L.P. purchased a new position in EyePoint Pharmaceuticals in the first quarter worth about $19,401,000. Point72 Asset Management L.P. bought a new stake in shares of EyePoint Pharmaceuticals during the second quarter valued at approximately $5,488,000. Cubist Systematic Strategies LLC raised its holdings in EyePoint Pharmaceuticals by 842.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock worth $4,143,000 after acquiring an additional 425,717 shares during the last quarter. Vanguard Group Inc. lifted its position in EyePoint Pharmaceuticals by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock valued at $49,530,000 after acquiring an additional 362,168 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C boosted its stake in EyePoint Pharmaceuticals by 51.4% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock valued at $7,637,000 after purchasing an additional 298,196 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.