Eyepoint Pharmaceuticals (NASDAQ:EYPT) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $10.85 and traded as high as $14.76. Eyepoint Pharmaceuticals shares last traded at $14.74, with a volume of 805,695 shares trading hands.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. HC Wainwright increased their price target on shares of Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. Mizuho set a $28.00 price objective on Eyepoint Pharmaceuticals in a research note on Monday, October 20th. Royal Bank Of Canada increased 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 note on Wednesday, October 8th. Finally, Chardan Capital reiterated a “buy” rating and issued a $27.00 price target on shares of Eyepoint Pharmaceuticals in a research report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Eyepoint Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $30.00.

Eyepoint Pharmaceuticals Stock Up 2.4%

The company has a market cap of $1.22 billion, a price-to-earnings ratio of -5.50 and a beta of 1.85. The company’s fifty day moving average price is $12.82 and its two-hundred day moving average price is $10.85.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results on Wednesday, November 5th. The company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.77) by ($0.08). The business had revenue of $0.97 million during the quarter, compared to analyst estimates of $3.33 million. Eyepoint Pharmaceuticals had a negative return on equity of 63.80% and a negative net margin of 337.93%. Research analysts forecast that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of EYPT. Raymond James Financial Inc. increased its stake in shares of Eyepoint Pharmaceuticals by 11.0% in the second quarter. Raymond James Financial Inc. now owns 11,900 shares of the company’s stock valued at $112,000 after buying an additional 1,177 shares in the last quarter. New York State Common Retirement Fund increased its position in Eyepoint Pharmaceuticals by 17.3% in the 3rd quarter. New York State Common Retirement Fund now owns 12,214 shares of the company’s stock valued at $174,000 after acquiring an additional 1,800 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Eyepoint Pharmaceuticals by 1,636.5% in the second quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock worth $27,000 after acquiring an additional 2,733 shares during the last quarter. Creative Planning raised its stake in shares of Eyepoint Pharmaceuticals by 18.9% in the third quarter. Creative Planning now owns 22,059 shares of the company’s stock worth $314,000 after acquiring an additional 3,505 shares during the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in shares of Eyepoint Pharmaceuticals during the third quarter worth approximately $50,000. Institutional investors and hedge funds own 99.41% of the company’s stock.

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.