EyePoint Pharmaceuticals (NASDAQ:EYPT) Sees Large Volume Increase

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shares saw an uptick in trading volume on Thursday . 2,164,401 shares were traded 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 brokerages have recently weighed in on EYPT. Mizuho upped their target price on EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the company a “buy” rating in a report on Friday, February 16th. Capital One Financial reiterated an “overweight” rating on shares of EyePoint Pharmaceuticals in a report on Friday, February 16th. HC Wainwright dropped their target price on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. initiated coverage on EyePoint Pharmaceuticals in a report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.86.

EyePoint Pharmaceuticals Stock Up 0.9 %

The business has a fifty day moving average of $23.68 and a 200 day moving average of $18.33.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.27. EyePoint Pharmaceuticals had a negative return on equity of 61.48% and a negative net margin of 153.84%. The company had revenue of $14.03 million for the quarter, compared to the consensus estimate of $8.71 million. During the same quarter last year, the company posted ($0.61) earnings per share. Analysts expect that EyePoint Pharmaceuticals, Inc. will post -1.73 EPS for the current fiscal year.

Insider Buying and Selling at EyePoint Pharmaceuticals

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

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several hedge funds have recently modified their holdings of EYPT. Barclays PLC boosted its position in shares of EyePoint Pharmaceuticals by 533.4% in the fourth quarter. Barclays PLC now owns 7,005 shares of the company’s stock valued at $25,000 after acquiring an additional 5,899 shares during the period. FNY Investment Advisers LLC bought a new position in EyePoint Pharmaceuticals in the fourth quarter worth $27,000. Toth Financial Advisory Corp lifted its position in EyePoint Pharmaceuticals by 250.0% in the third quarter. Toth Financial Advisory Corp now owns 3,500 shares of the company’s stock worth $28,000 after purchasing an additional 2,500 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in EyePoint Pharmaceuticals in the fourth quarter worth $36,000. Finally, Tower Research Capital LLC TRC lifted its position 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 worth $37,000 after purchasing an additional 2,294 shares during the period. 99.41% of the stock is owned by institutional investors.

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.