Zacks Investment Research upgraded shares of Eyepoint Pharmaceuticals (NASDAQ:EYPT) from a hold rating to a buy rating in a report published on Tuesday morning, Zacks.com reports. The brokerage currently has $1.50 price objective on the stock.
According to Zacks, “EyePoint Pharmaceuticals Inc. operates as a biopharmaceutical company. It engaged in the development of drug devices to treat debilitating diseases of the eye disorders and other chronic conditions. The company’s product candidate consists of DEXYCU(TM). EyePoint Pharmaceuticals Inc., formerly known as pSivida Corp., is headquartered in Watertown, MA. “
Separately, HC Wainwright set a $5.00 price objective on shares of Eyepoint Pharmaceuticals and gave the company a buy rating in a research report on Friday, July 12th.
Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.11) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. The firm had revenue of $7.21 million during the quarter, compared to analyst estimates of $6.75 million. Eyepoint Pharmaceuticals had a negative net margin of 621.04% and a negative return on equity of 165.24%. As a group, equities analysts predict that Eyepoint Pharmaceuticals will post -0.39 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in EYPT. BlackRock Inc. raised its holdings in Eyepoint Pharmaceuticals by 712.5% in the fourth quarter. BlackRock Inc. now owns 1,232,335 shares of the company’s stock worth $2,329,000 after buying an additional 1,080,662 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Eyepoint Pharmaceuticals by 78.5% in the fourth quarter. Bank of New York Mellon Corp now owns 51,501 shares of the company’s stock worth $97,000 after buying an additional 22,645 shares during the last quarter. Northern Trust Corp raised its holdings in Eyepoint Pharmaceuticals by 10.8% in the fourth quarter. Northern Trust Corp now owns 113,544 shares of the company’s stock worth $215,000 after buying an additional 11,064 shares during the last quarter. Geode Capital Management LLC raised its holdings in Eyepoint Pharmaceuticals by 33.4% in the fourth quarter. Geode Capital Management LLC now owns 417,597 shares of the company’s stock worth $789,000 after buying an additional 104,582 shares during the last quarter. Finally, Arcus Capital Partners LLC purchased a new position in Eyepoint Pharmaceuticals in the first quarter worth about $45,000. 57.73% of the stock is owned by hedge funds and other institutional investors.
About Eyepoint Pharmaceuticals
EyePoint Pharmaceuticals, Inc, a specialty biopharmaceutical company, develops and commercializes ophthalmic products for the treatment of eye diseases in the United States and Europe. It provides ILUVIEN for the treatment of diabetic macular edema; YUTIQ, a non-erodible fluocinolone acetonide insert for the treatment of non-infectious posterior uveitis (NIPU) that is in the Phase III clinical trials; and Retisert (fluocinolone acetonide intravitreal implant), a sustained-release implant for the treatment of posterior segment uveitis.
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