Eyepoint Pharmaceuticals Inc Up 17.28% To $7.06 After Earnings Beat

Eyepoint Pharmaceuticals Inc (EYPT) said before open Wednesday that it lost $0.33 per share in quarter three 2023.

On the revenue line, the company reported $15.2 million, beating estimates by $7.7 million.

In the same quarter a year ago, the company lost $0.49 per share on revenue of $10 million.

The stock is up 17.28% to $7.06 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 55. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.

EyePoint Pharmaceuticals Inc is a pharmaceutical company. It is engaged in developing and commercializing ophthalmic products for the treatment of eye diseases. The company has developed FDA-approved sustained-release treatments in ophthalmology. Its pre-clinical development program is focused on using its core Durasert and Verisome Technology platforms to deliver drugs to treat wet age-related macular degeneration, glaucoma, osteoarthritis, and other diseases.