Eyepoint Pharmaceuticals (NASDAQ:EYPT) Posts Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Eyepoint Pharmaceuticals (NASDAQ:EYPT) posted its quarterly earnings data on Wednesday. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($1.00) by ($0.09), Zacks reports. Eyepoint Pharmaceuticals had a negative return on equity of 110.54% and a negative net margin of 3,566.63%.The company had revenue of $0.51 million during the quarter, compared to the consensus estimate of $0.39 million.

Eyepoint Pharmaceuticals Trading Up 4.7%

Shares of NASDAQ:EYPT traded up $0.58 during midday trading on Thursday, reaching $12.83. 2,240,675 shares of the company were exchanged, compared to its average volume of 1,280,056. The stock has a market cap of $1.08 billion, a PE ratio of -3.67 and a beta of 1.76. The business’s fifty day moving average is $13.12 and its two-hundred day moving average is $13.79. Eyepoint Pharmaceuticals has a one year low of $9.65 and a one year high of $19.11.

Analyst Ratings Changes

Several research firms recently issued reports on EYPT. Guggenheim reissued a “buy” rating and issued a $68.00 target price on shares of Eyepoint Pharmaceuticals in a report on Wednesday, June 24th. Cantor Fitzgerald lifted their price target on shares of Eyepoint Pharmaceuticals from $47.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday. Chardan Capital upped their price target on shares of Eyepoint Pharmaceuticals from $29.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, July 1st. Royal Bank Of Canada reduced their price objective on shares of Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Finally, HC Wainwright decreased their price objective on shares of Eyepoint Pharmaceuticals from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Eyepoint Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $44.38.

Institutional Trading of Eyepoint Pharmaceuticals

Several hedge funds have recently bought and sold shares of EYPT. Russell Investments Group Ltd. bought a new stake in shares of Eyepoint Pharmaceuticals in the third quarter worth about $76,000. Tower Research Capital LLC TRC lifted its position in shares of Eyepoint Pharmaceuticals by 218.3% in the second quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock worth $82,000 after buying an additional 5,967 shares in the last quarter. California State Teachers Retirement System boosted its stake in Eyepoint Pharmaceuticals by 20.6% during the fourth quarter. California State Teachers Retirement System now owns 4,654 shares of the company’s stock valued at $85,000 after buying an additional 794 shares during the last quarter. Persistent Asset Partners Ltd purchased a new position in Eyepoint Pharmaceuticals during the 4th quarter valued at approximately $98,000. Finally, Raymond James Financial Inc. grew its holdings in Eyepoint Pharmaceuticals by 11.0% during the 2nd 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. Hedge funds and other institutional investors own 99.41% of the company’s stock.

About Eyepoint Pharmaceuticals

Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company’s proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint’s commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.

Eyepoint’s lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.