EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Down 6.5% – Should You Sell?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s stock price dropped 6.5% during mid-day trading on Tuesday . The company traded as low as $11.24 and last traded at $11.33. Approximately 727,692 shares were traded during trading, a decline of 21% from the average daily volume of 923,944 shares. The stock had previously closed at $12.12.

Analyst Upgrades and Downgrades

EYPT has been the subject of several analyst reports. Jefferies Financial Group assumed coverage on EyePoint Pharmaceuticals in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 target price for the company. Scotiabank started coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $30.00 target price on shares of EyePoint Pharmaceuticals in a report on Friday, October 25th. Chardan Capital restated a “buy” rating and set a $28.00 price target on shares of EyePoint Pharmaceuticals in a research report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price objective on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

EyePoint Pharmaceuticals Price Performance

The stock has a 50 day moving average of $9.11 and a 200 day moving average of $10.37. The firm has a market cap of $629.40 million, a P/E ratio of -6.57 and a beta of 1.57.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.03). The firm had revenue of $9.48 million for the quarter, compared to the consensus estimate of $11.61 million. EyePoint Pharmaceuticals had a negative net margin of 172.29% and a negative return on equity of 43.24%. On average, research analysts predict that EyePoint Pharmaceuticals, Inc. will post -2.33 EPS for the current fiscal year.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of institutional investors have recently made changes to their positions in EYPT. Ameritas Investment Partners Inc. raised its position in EyePoint Pharmaceuticals by 44.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock worth $77,000 after purchasing an additional 1,136 shares during the period. China Universal Asset Management Co. Ltd. increased its holdings in shares of EyePoint Pharmaceuticals by 68.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock worth $82,000 after buying an additional 4,172 shares during the period. Greenwich Wealth Management LLC lifted its stake in shares of EyePoint Pharmaceuticals by 8.3% in the 3rd quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock valued at $93,000 after acquiring an additional 900 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in EyePoint Pharmaceuticals by 271.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock valued at $95,000 after acquiring an additional 7,953 shares during the period. Finally, Cyndeo Wealth Partners LLC bought a new position in EyePoint Pharmaceuticals during the 3rd quarter worth approximately $100,000. Hedge funds and other institutional investors own 99.41% of the company’s stock.

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.