Eyepoint Pharmaceuticals (NASDAQ:EYPT) Releases Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Eyepoint Pharmaceuticals (NASDAQ:EYPT) issued its quarterly earnings results on Wednesday. The company reported ($0.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.08), Zacks reports. The business had revenue of $0.97 million for the quarter, compared to analyst estimates of $3.33 million. Eyepoint Pharmaceuticals had a negative net margin of 337.93% and a negative return on equity of 63.80%.

Eyepoint Pharmaceuticals Stock Up 1.2%

Eyepoint Pharmaceuticals stock traded up $0.13 during mid-day trading on Friday, hitting $11.21. The company’s stock had a trading volume of 1,204,048 shares, compared to its average volume of 911,428. The stock has a market capitalization of $772.67 million, a P/E ratio of -4.18 and a beta of 1.85. Eyepoint Pharmaceuticals has a twelve month low of $3.91 and a twelve month high of $14.91. The stock’s fifty day moving average price is $12.83 and its two-hundred day moving average price is $10.26.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on EYPT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their price target on shares of Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday. Chardan Capital reiterated a “buy” rating and set a $27.00 price objective on shares of Eyepoint Pharmaceuticals in a research note on Thursday, August 7th. HC Wainwright boosted their target price on Eyepoint Pharmaceuticals from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Finally, Mizuho set a $28.00 target price on Eyepoint Pharmaceuticals in a research report on Monday, October 20th. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Eyepoint Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of EYPT. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Eyepoint Pharmaceuticals by 9.7% during the second quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock valued at $63,988,000 after purchasing an additional 600,000 shares during the last quarter. Corient Private Wealth LLC purchased a new position in Eyepoint Pharmaceuticals in the 2nd quarter worth about $1,200,000. Invesco Ltd. raised its holdings in Eyepoint Pharmaceuticals by 199.8% during the 2nd quarter. Invesco Ltd. now owns 128,772 shares of the company’s stock worth $1,212,000 after buying an additional 85,824 shares during the period. BNP Paribas Financial Markets lifted its stake in Eyepoint Pharmaceuticals by 94.2% during the second quarter. BNP Paribas Financial Markets now owns 172,446 shares of the company’s stock valued at $1,623,000 after buying an additional 83,666 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Eyepoint Pharmaceuticals by 8.5% in the second quarter. Bank of America Corp DE now owns 814,153 shares of the company’s stock worth $7,661,000 after buying an additional 63,941 shares during the period. 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.