EyePoint Pharmaceuticals (NASDAQ:EYPT) Sets New 1-Year Low – What’s Next?

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on EYPT. Chardan Capital reissued a “buy” rating and issued a $33.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday. Citigroup began coverage on shares of EyePoint Pharmaceuticals in a research report on Tuesday, January 7th. They set a “buy” rating and a $33.00 price objective for the company. Scotiabank began coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $22.00 price target on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. Finally, Robert W. Baird reduced their price objective on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, EyePoint Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.63.

EyePoint Pharmaceuticals Price Performance

The stock’s fifty day simple moving average is $7.92 and its 200-day simple moving average is $8.82.

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 the consensus estimate of ($0.48) by ($0.06). The firm had revenue of $10.52 million during the quarter, compared to analysts’ expectations of $12.35 million. EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. As a group, equities research analysts anticipate that EyePoint Pharmaceuticals, Inc. will post -2.13 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EYPT. Patient Square Capital LP acquired a new stake in EyePoint Pharmaceuticals in the 3rd quarter valued at about $10,882,000. Franklin Resources Inc. increased its stake in shares of EyePoint Pharmaceuticals by 9.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company’s stock worth $32,056,000 after purchasing an additional 362,399 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of EyePoint Pharmaceuticals by 1,171.3% during the 3rd 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 during the last quarter. abrdn plc purchased a new stake in EyePoint Pharmaceuticals in the 4th quarter valued at approximately $1,719,000. Finally, Barclays PLC grew its holdings in EyePoint Pharmaceuticals by 410.4% during the 3rd quarter. Barclays PLC now owns 245,045 shares of the company’s stock valued at $1,959,000 after buying an additional 197,033 shares during the last quarter. Hedge funds and other institutional investors own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Company Profile

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.