Eyepoint Pharmaceuticals (EYPT) Sees Strong Trading Volume

Eyepoint Pharmaceuticals Inc (NASDAQ:EYPT) saw unusually-high trading volume on Monday . Approximately 2,280,517 shares were traded during mid-day trading, an increase of 326% from the previous session’s volume of 534,904 shares.The stock last traded at $3.45 and had previously closed at $3.23.

EYPT has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and issued a $2.50 price objective on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, June 26th. ValuEngine upgraded shares of Eyepoint Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Wednesday, September 19th. Finally, Zacks Investment Research upgraded shares of Eyepoint Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, August 28th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $5.20.

The stock has a market capitalization of $192.89 million, a P/E ratio of -5.19 and a beta of 0.83. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.48.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Wednesday, September 12th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.08). The company had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $0.67 million. Eyepoint Pharmaceuticals had a negative return on equity of 301.45% and a negative net margin of 1,795.71%. On average, analysts forecast that Eyepoint Pharmaceuticals Inc will post -0.42 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of EYPT. Essex Investment Management Co. LLC purchased a new stake in shares of Eyepoint Pharmaceuticals during the 2nd quarter worth $170,000. Creative Planning purchased a new stake in shares of Eyepoint Pharmaceuticals during the 2nd quarter worth $162,000. FineMark National Bank & Trust purchased a new stake in shares of Eyepoint Pharmaceuticals during the 2nd quarter worth $118,000. BlackRock Inc. purchased a new stake in shares of Eyepoint Pharmaceuticals during the 2nd quarter worth $304,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Eyepoint Pharmaceuticals during the 2nd quarter worth $2,339,000. Institutional investors own 62.93% of the company’s stock.

About Eyepoint Pharmaceuticals (NASDAQ:EYPT)

EyePoint Pharmaceuticals, Inc, a specialty biopharmaceutical company, engages in developing and commercializing ophthalmic products in indications with high unmet medical need to help improve the lives of patients with eye disorders. The company has developed three FDA-approved sustained-release treatments in ophthalmology, including DEXYCU (dexamethasone intraocular suspension), which is administered as a single intraocular dose at the end of ocular surgery for postoperative inflammation; ILUVIEN (fluocinolone acetonide intravitreal implant), a micro-insert for diabetic macular edema; and Retisert (fluocinolone acetonide intravitreal implant) for posterior uveitis.

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