Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives Average Rating of “Hold” from Brokerages

Eyepoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has received a consensus recommendation of “Hold” from the eleven brokerages that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $25.70.

A number of equities research analysts have recently weighed in on EYPT shares. HC Wainwright reissued a “neutral” rating on shares of Eyepoint Pharmaceuticals in a report on Tuesday, August 18th. TD Cowen cut Eyepoint Pharmaceuticals from a “buy” rating to a “hold” rating and lowered their price target for the stock from $20.00 to $4.00 in a research report on Wednesday, September 2nd. Jefferies Financial Group cut their price objective on Eyepoint Pharmaceuticals to $8.00 and set a “buy” rating on the stock in a report on Monday, August 17th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Eyepoint Pharmaceuticals in a research note on Monday, August 17th. Finally, Citigroup decreased their target price on Eyepoint Pharmaceuticals to $17.00 and set a “buy” rating for the company in a report on Tuesday, August 18th.

Eyepoint Pharmaceuticals Stock Down 3.1%

Shares of EYPT opened at $3.15 on Tuesday. The company has a 50 day moving average of $6.68 and a two-hundred day moving average of $11.00. Eyepoint Pharmaceuticals has a twelve month low of $3.05 and a twelve month high of $19.11. The company has a market cap of $271.56 million, a price-to-earnings ratio of -0.84 and a beta of 1.67.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings data 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 net margin of 10,994.73% and a negative return on equity of 135.81%. The business had revenue of $0.51 million for the quarter, compared to analysts’ expectations of $0.45 million. On average, sell-side analysts expect that Eyepoint Pharmaceuticals will post -3.51 EPS for the current year.

Institutional Trading of Eyepoint Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. KBC Group NV purchased a new stake in Eyepoint Pharmaceuticals in the first quarter valued at $29,000. Integrated Wealth Concepts LLC acquired a new position in shares of Eyepoint Pharmaceuticals in the 2nd quarter valued at about $72,000. Pictet Asset Management Holding SA purchased a new stake in shares of Eyepoint Pharmaceuticals in the first quarter worth about $141,000. Engineers Gate Manager LP purchased a new stake in shares of Eyepoint Pharmaceuticals in the second quarter worth about $161,000. Finally, MCF Advisors LLC grew its holdings in Eyepoint Pharmaceuticals by 8.3% during the fourth quarter. MCF Advisors LLC now owns 14,921 shares of the company’s stock worth $273,000 after acquiring an additional 1,149 shares during the period. Institutional investors and hedge funds own 99.41% of the company’s stock.

Eyepoint Pharmaceuticals Company Profile

EyePoint Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing therapies for serious eye diseases. The company specializes in sustained-release drug delivery technologies designed to provide extended treatment in the eye and potentially reduce the frequency of injections or other interventions.

EyePoint’s commercial products include YUTIQ, an intravitreal implant that delivers fluocinolone acetonide for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, an intraocular suspension of dexamethasone used to treat postoperative inflammation following ocular surgery.