EyePoint Pharmaceuticals (NASDAQ:EYPT) Sees Strong Trading Volume

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares saw an uptick in trading volume on Thursday . 2,164,401 shares changed hands during mid-day trading, an increase of 126% from the previous session’s volume of 957,865 shares.The stock last traded at $19.27 and had previously closed at $20.94.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Mizuho boosted their target price on shares of EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Capital One Financial reiterated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th. HC Wainwright reduced their price target on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. initiated coverage on EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They set an “overweight” rating and a $35.00 target price for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, EyePoint Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $33.86.

EyePoint Pharmaceuticals Stock Performance

The company has a market cap of $925.84 million, a price-to-earnings ratio of -9.96 and a beta of 1.64. The business has a fifty day moving average price of $24.14 and a 200 day moving average price of $18.27.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.27. The firm had revenue of $14.03 million during the quarter, compared to analysts’ expectations of $8.71 million. EyePoint Pharmaceuticals had a negative net margin of 153.84% and a negative return on equity of 61.48%. During the same quarter in the prior year, the business earned ($0.61) earnings per share. As a group, equities analysts anticipate that EyePoint Pharmaceuticals, Inc. will post -1.73 EPS for the current year.

Insider Activity at EyePoint Pharmaceuticals

In other EyePoint Pharmaceuticals news, insider Dario A. Paggiarino sold 49,325 shares of the company’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $25.66, for a total value of $1,265,679.50. Following the completion of the transaction, the insider now owns 36,505 shares of the company’s stock, valued at approximately $936,718.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other EyePoint Pharmaceuticals news, insider Dario A. Paggiarino sold 5,135 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $25.00, for a total value of $128,375.00. Following the sale, the insider now owns 36,505 shares in the company, valued at approximately $912,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dario A. Paggiarino sold 49,325 shares of the company’s stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $25.66, for a total value of $1,265,679.50. Following the completion of the sale, the insider now owns 36,505 shares in the company, valued at $936,718.30. The disclosure for this sale can be found here. Insiders have sold a total of 56,169 shares of company stock valued at $1,437,509 in the last 90 days. 13.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several large investors have recently modified their holdings of the company. FNY Investment Advisers LLC bought a new stake in EyePoint Pharmaceuticals during the fourth quarter valued at $27,000. Toth Financial Advisory Corp boosted its position in shares of EyePoint Pharmaceuticals by 250.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 3,500 shares of the company’s stock valued at $28,000 after purchasing an additional 2,500 shares in the last quarter. US Bancorp DE acquired a new stake in EyePoint Pharmaceuticals during the fourth quarter worth approximately $85,000. China Universal Asset Management Co. Ltd. bought a new stake in EyePoint Pharmaceuticals in the fourth quarter worth approximately $94,000. Finally, Tower Research Capital LLC TRC lifted its stake in EyePoint Pharmaceuticals by 99.3% in the third quarter. Tower Research Capital LLC TRC now owns 4,605 shares of the company’s stock valued at $37,000 after buying an additional 2,294 shares during the period. 99.41% of the stock is currently 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.