Eyepoint Pharmaceuticals (NASDAQ:EYPT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Eyepoint Pharmaceuticals (NASDAQ:EYPT) from a strong sell rating to a sell rating in a report issued on Sunday morning,Wall Street Zen reports.

Other research analysts have also issued reports about the stock. Guggenheim restated a “buy” rating and set a $68.00 target price on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, June 24th. Chardan Capital lowered Eyepoint Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research note on Tuesday, August 18th. Stifel Nicolaus began coverage on Eyepoint Pharmaceuticals in a report on Thursday, July 16th. They issued a “buy” rating and a $40.00 price target on the stock. Cantor Fitzgerald downgraded Eyepoint Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research note on Monday, August 17th. Finally, Citigroup reduced their price objective on Eyepoint Pharmaceuticals to $17.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $25.70.

Eyepoint Pharmaceuticals Stock Performance

Shares of NASDAQ EYPT opened at $3.42 on Friday. The firm has a market capitalization of $294.84 million, a P/E ratio of -0.91 and a beta of 1.63. Eyepoint Pharmaceuticals has a one year low of $3.27 and a one year high of $19.11. The company’s fifty day moving average is $7.42 and its two-hundred day moving average is $11.30.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.08). Eyepoint Pharmaceuticals had a negative return on equity of 135.81% and a negative net margin of 10,994.73%.The company had revenue of $0.51 million for the quarter, compared to analyst estimates of $0.45 million. On average, sell-side analysts forecast that Eyepoint Pharmaceuticals will post -3.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EYPT. Commodore Capital LP acquired a new position in shares of Eyepoint Pharmaceuticals in the first quarter worth $36,414,000. Spruce Street Capital LP purchased a new position in Eyepoint Pharmaceuticals in the 4th quarter valued at about $17,933,000. Hsbc Holdings PLC acquired a new position in shares of Eyepoint Pharmaceuticals in the first quarter valued at approximately $10,743,000. Janus Henderson Group PLC raised its position in shares of Eyepoint Pharmaceuticals by 22.6% in the first quarter. Janus Henderson Group PLC now owns 3,601,168 shares of the company’s stock valued at $46,419,000 after buying an additional 663,439 shares during the last quarter. Finally, Stempoint Capital LP lifted its stake in shares of Eyepoint Pharmaceuticals by 129.1% during the first quarter. Stempoint Capital LP now owns 810,764 shares of the company’s stock valued at $10,451,000 after buying an additional 456,915 shares during the period. 99.41% of the stock is currently owned by institutional investors and hedge funds.

About Eyepoint Pharmaceuticals

EyePoint Pharmaceuticals, Inc is a commercial-stage biotechnology company focused on developing and delivering treatments for serious eye diseases. The company’s proprietary technology is designed to provide sustained, localized release of pharmaceutical compounds within the eye, with the goal of reducing treatment frequency and improving outcomes for patients and physicians.

EyePoint’s commercial products include YUTIQ, an injectable fluocinolone acetonide implant for the treatment of chronic noninfectious uveitis affecting the posterior segment of the eye, and DEXYCU, a sustained-release dexamethasone intraocular suspension used to treat inflammation following ophthalmic surgery.