Eyepoint Pharmaceuticals (NASDAQ:EYPT) Reaches New 52-Week High on Analyst Upgrade

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s stock price hit a new 52-week high during mid-day trading on Wednesday after Cantor Fitzgerald upgraded the stock to a strong-buy rating. The stock traded as high as $14.96 and last traded at $14.8870, with a volume of 446118 shares. The stock had previously closed at $14.74.

A number of other equities analysts have also recently issued reports on EYPT. 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 restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Wednesday, October 8th. Mizuho set a $28.00 price objective on shares of Eyepoint Pharmaceuticals in a research note on Monday, October 20th. HC Wainwright lifted their price objective on shares of Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Finally, Chardan Capital reissued a “buy” rating and set a $27.00 target price on shares of Eyepoint Pharmaceuticals in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.00.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. purchased a new position in shares of Eyepoint Pharmaceuticals in the 1st quarter worth approximately $232,000. Invesco Ltd. lifted its holdings in Eyepoint Pharmaceuticals by 174.3% during the first quarter. Invesco Ltd. now owns 42,948 shares of the company’s stock worth $233,000 after acquiring an additional 27,291 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in Eyepoint Pharmaceuticals by 127.8% during the first quarter. Dynamic Technology Lab Private Ltd now owns 73,310 shares of the company’s stock worth $397,000 after acquiring an additional 41,132 shares during the period. Vanguard Group Inc. boosted its position in Eyepoint Pharmaceuticals by 0.8% in the first quarter. Vanguard Group Inc. now owns 3,834,368 shares of the company’s stock worth $20,782,000 after purchasing an additional 31,141 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in Eyepoint Pharmaceuticals in the 1st quarter valued at $180,000. 99.41% of the stock is owned by institutional investors.

Eyepoint Pharmaceuticals Stock Performance

The stock has a market cap of $1.22 billion, a P/E ratio of -5.52 and a beta of 1.85. The business has a 50 day simple moving average of $12.84 and a 200-day simple moving average of $10.88.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.08). The company had revenue of $0.97 million during 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%. On average, sell-side analysts predict that Eyepoint Pharmaceuticals, Inc. will post -2.13 earnings per share for the current fiscal year.

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.