Eyepoint Pharmaceuticals (NASDAQ:EYPT) Lowered to Strong Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Eyepoint Pharmaceuticals (NASDAQ:EYPT) from a sell rating to a strong sell rating in a research report released on Saturday,Wall Street Zen reports.

A number of other brokerages also recently issued reports on EYPT. Cantor Fitzgerald downgraded shares of Eyepoint Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research report on Monday, August 17th. HC Wainwright reissued a “neutral” rating on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, August 18th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Eyepoint Pharmaceuticals in a research note on Monday, August 17th. Guggenheim reaffirmed a “buy” rating and issued a $68.00 price target on shares of Eyepoint Pharmaceuticals in a report on Wednesday, June 24th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $5.00 price target on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, August 18th. Four investment 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. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $25.70.

Eyepoint Pharmaceuticals Stock Down 3.5%

Eyepoint Pharmaceuticals stock opened at $3.85 on Friday. The firm has a market cap of $331.91 million, a P/E ratio of -1.03 and a beta of 1.63. The business has a fifty day moving average of $8.78 and a two-hundred day moving average of $11.96. Eyepoint Pharmaceuticals has a twelve month low of $3.41 and a twelve month high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $0.45 million. Equities analysts expect that Eyepoint Pharmaceuticals will post -3.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC grew its holdings in shares of Eyepoint Pharmaceuticals by 22.6% during 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. Commodore Capital LP acquired a new stake in Eyepoint Pharmaceuticals during the 1st quarter worth about $36,414,000. Spruce Street Capital LP acquired a new stake in Eyepoint Pharmaceuticals during the 4th quarter worth about $17,933,000. Artia Global Partners LP grew its stake in Eyepoint Pharmaceuticals by 22.1% during the 4th quarter. Artia Global Partners LP now owns 767,098 shares of the company’s stock valued at $14,015,000 after purchasing an additional 138,731 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in Eyepoint Pharmaceuticals during the 1st quarter valued at about $10,743,000. Hedge funds and other institutional investors own 99.41% of the company’s stock.

Eyepoint Pharmaceuticals Company Profile

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.