EyePoint Pharmaceuticals (NASDAQ:EYPT) Releases Earnings Results, Beats Expectations By $0.27 EPS

EyePoint Pharmaceuticals (NASDAQ:EYPT) announced its earnings results on Thursday. The company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.27, Zacks reports. The business had revenue of $14.03 million for the quarter, compared to analyst estimates of $8.71 million. EyePoint Pharmaceuticals had a negative return on equity of 109.34% and a negative net margin of 235.51%. During the same period in the previous year, the company earned ($0.61) earnings per share.

EyePoint Pharmaceuticals Trading Down 4.2 %

EyePoint Pharmaceuticals stock traded down $1.07 during midday trading on Friday, reaching $24.24. 234,184 shares of the stock traded hands, compared to its average volume of 1,044,725. EyePoint Pharmaceuticals has a fifty-two week low of $2.21 and a fifty-two week high of $30.99. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -9.44 and a beta of 1.66. The firm has a fifty day moving average price of $25.52 and a two-hundred day moving average price of $15.92.

Insider Buying and Selling at EyePoint Pharmaceuticals

In other EyePoint Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp acquired 105,000 shares of EyePoint Pharmaceuticals stock in a transaction dated Tuesday, January 9th. The stock was acquired at an average cost of $21.32 per share, for a total transaction of $2,238,600.00. Following the completion of the transaction, the insider now owns 6,143,235 shares in the company, valued at approximately $130,973,770.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Dario A. Paggiarino sold 1,458 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $20.00, for a total value of $29,160.00. Following the completion of the transaction, the insider now directly owns 25,707 shares of the company’s stock, valued at approximately $514,140. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Cormorant Asset Management, Lp acquired 105,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The stock was acquired at an average cost of $21.32 per share, with a total value of $2,238,600.00. Following the completion of the acquisition, the insider now directly owns 6,143,235 shares in the company, valued at $130,973,770.20. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 1,991,040 shares of company stock worth $39,110,046. 13.05% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its stake in shares of EyePoint Pharmaceuticals by 83.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,522,704 shares of the company’s stock valued at $58,301,000 after acquiring an additional 1,148,358 shares during the period. Vanguard Group Inc. raised its holdings in shares of EyePoint Pharmaceuticals by 41.2% in the 4th quarter. Vanguard Group Inc. now owns 2,034,060 shares of the company’s stock worth $47,007,000 after purchasing an additional 593,336 shares in the last quarter. BlackRock Inc. raised its holdings in shares of EyePoint Pharmaceuticals by 15.1% in the 2nd quarter. BlackRock Inc. now owns 1,752,672 shares of the company’s stock worth $15,248,000 after purchasing an additional 229,603 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of EyePoint Pharmaceuticals by 1.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 887,632 shares of the company’s stock worth $6,985,000 after purchasing an additional 16,531 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of EyePoint Pharmaceuticals by 64.6% in the 4th quarter. Millennium Management LLC now owns 675,433 shares of the company’s stock worth $2,364,000 after purchasing an additional 265,147 shares in the last quarter. Institutional investors and hedge funds own 99.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EYPT. Capital One Financial restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research note on Friday, February 16th. HC Wainwright cut their target price on shares of EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, January 16th. Mizuho upped their target price on shares of EyePoint Pharmaceuticals from $30.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. started coverage on shares of EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 price target on the stock. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, EyePoint Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $33.86.

EyePoint Pharmaceuticals Company Profile

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.