Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Dropped to “Underweight” by JPMorgan Chase & Co.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report issued on Tuesday, October 20th, MarketBeat reports.

Other equities research analysts have also issued research reports about the company. Mizuho reiterated a “neutral” rating and issued a $0.50 price target on shares of Eyepoint Pharmaceuticals in a research note on Tuesday, October 20th. Wall Street Zen raised Eyepoint Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Sunday, September 27th. Weiss Ratings upgraded Eyepoint Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 1st. Chardan Capital cut Eyepoint Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a report on Tuesday, August 18th. Finally, TD Cowen downgraded shares of Eyepoint Pharmaceuticals from a “buy” rating to a “hold” rating and cut their target price for the stock from $20.00 to $4.00 in a research report on Wednesday, September 2nd. Two research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $21.85.

Eyepoint Pharmaceuticals Price Performance

Eyepoint Pharmaceuticals stock traded up $0.01 during midday trading on Tuesday, hitting $0.38. 6,502,894 shares of the stock were exchanged, compared to its average volume of 3,610,859. Eyepoint Pharmaceuticals has a 1 year low of $0.36 and a 1 year high of $19.11. The firm has a market cap of $32.54 million, a P/E ratio of -0.10 and a beta of 1.67. The company has a 50 day moving average price of $3.53 and a two-hundred day moving average price of $11.25.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($1.09) EPS for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.08). The business had revenue of $0.51 million for the quarter, compared to the consensus estimate of $0.45 million. Eyepoint Pharmaceuticals had a negative return on equity of 135.81% and a negative net margin of 10,994.73%. As a group, analysts predict that Eyepoint Pharmaceuticals will post -3.46 EPS for the current year.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. KBC Group NV acquired a new stake in Eyepoint Pharmaceuticals in the first quarter valued at $29,000. Janney Montgomery Scott LLC raised its stake in Eyepoint Pharmaceuticals by 14.8% in the first quarter. Janney Montgomery Scott LLC now owns 30,315 shares of the company’s stock worth $391,000 after buying an additional 3,900 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Eyepoint Pharmaceuticals by 16.4% during the 2nd quarter. Baird Financial Group Inc. now owns 32,732 shares of the company’s stock valued at $468,000 after buying an additional 4,613 shares during the period. Integrated Wealth Concepts LLC bought a new stake in Eyepoint Pharmaceuticals in the second quarter worth $72,000. Finally, Pictet Asset Management Holding SA acquired a new stake in Eyepoint Pharmaceuticals in the first quarter valued at approximately $141,000. 99.41% of the stock is owned by institutional investors and hedge funds.

Eyepoint Pharmaceuticals Company Profile

EyePoint Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing treatments for serious eye diseases. The company specializes in sustained-release drug delivery for the retina and other parts of the eye, with the goal of reducing the frequency of injections and improving treatment convenience for patients.

EyePoint’s commercial products include YUTIQ, an injectable fluocinolone acetonide intravitreal implant used to treat chronic noninfectious posterior uveitis, and DEXYCU, an ophthalmic formulation of dexamethasone used to treat inflammation following ocular surgery.