Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Rating Lowered by Laidlaw

Eyepoint Pharmaceuticals (NASDAQ:EYPT) was downgraded by Laidlaw from a “buy” rating to a “hold” rating in a report issued on Tuesday, October 20th, Benzinga reports.

Several other equities research analysts also recently weighed in on the stock. HC Wainwright reiterated a “neutral” rating on shares of Eyepoint Pharmaceuticals in a research note on Tuesday, October 20th. JPMorgan Chase & Co. downgraded Eyepoint Pharmaceuticals from a “neutral” rating to an “underweight” rating in a research note on Tuesday, October 20th. Cantor Fitzgerald downgraded shares of Eyepoint Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research report on Monday, August 17th. Royal Bank Of Canada reduced their price target on shares of Eyepoint Pharmaceuticals to $1.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 20th. Finally, Jefferies Financial Group lowered Eyepoint Pharmaceuticals from a “buy” rating to a “hold” rating and set a $1.00 price target on the stock. in a research report on Monday, October 19th. Two investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.85.

Eyepoint Pharmaceuticals Stock Performance

NASDAQ EYPT traded up $0.01 on Tuesday, reaching $0.38. The company had a trading volume of 6,502,894 shares, compared to its average volume of 3,610,859. The company’s fifty day moving average is $3.53 and its 200-day moving average is $11.25. The firm has a market capitalization of $32.54 million, a price-to-earnings ratio of -0.10 and a beta of 1.67. Eyepoint Pharmaceuticals has a 1-year low of $0.36 and a 1-year high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $0.45 million. On average, research analysts forecast that Eyepoint Pharmaceuticals will post -3.46 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System lifted its position in shares of Eyepoint Pharmaceuticals by 2,158.3% during the first quarter. California State Teachers Retirement System now owns 105,101 shares of the company’s stock valued at $1,355,000 after purchasing an additional 100,447 shares in the last quarter. Commodore Capital LP bought a new position in shares of Eyepoint Pharmaceuticals in the first quarter worth about $36,414,000. Walleye Capital LLC purchased a new stake in Eyepoint Pharmaceuticals in the 1st quarter worth approximately $3,869,000. Swiss National Bank purchased a new stake in shares of Eyepoint Pharmaceuticals in the 1st quarter valued at approximately $1,900,000. Finally, Stempoint Capital LP raised its holdings in shares of Eyepoint Pharmaceuticals by 129.1% in the 1st quarter. Stempoint Capital LP now owns 810,764 shares of the company’s stock valued at $10,451,000 after purchasing an additional 456,915 shares in the last quarter. 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.