Eyepoint Pharmaceuticals (NASDAQ:EYPT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

According to Zacks, “EyePoint Pharmaceuticals Inc. operates as a biopharmaceutical company. It engaged in the development of drug devices to treat debilitating diseases of the eye disorders and other chronic conditions. The company’s product candidate consists of DEXYCU(TM). EyePoint Pharmaceuticals Inc., formerly known as pSivida Corp., is headquartered in Watertown, MA. “

Several other brokerages have also commented on EYPT. ValuEngine lowered shares of Eyepoint Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. HC Wainwright set a $5.00 target price on shares of Eyepoint Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, April 2nd.

EYPT stock opened at $1.83 on Tuesday. Eyepoint Pharmaceuticals has a 12 month low of $1.24 and a 12 month high of $3.94. The company has a market cap of $187.82 million, a P/E ratio of -3.16 and a beta of 1.89. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.37.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.16) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.03). The firm had revenue of $2.01 million during the quarter, compared to analysts’ expectations of $3.70 million. Eyepoint Pharmaceuticals had a negative net margin of 1,739.81% and a negative return on equity of 174.26%. Equities analysts predict that Eyepoint Pharmaceuticals will post -0.4 earnings per share for the current fiscal year.

In other news, Director John B. Landis acquired 40,000 shares of Eyepoint Pharmaceuticals stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average price of $1.74 per share, with a total value of $69,600.00. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Douglas Evan Godshall acquired 17,000 shares of Eyepoint Pharmaceuticals stock in a transaction that occurred on Friday, March 29th. The shares were purchased at an average cost of $1.75 per share, for a total transaction of $29,750.00. The disclosure for this purchase can be found here. Insiders have bought a total of 90,500 shares of company stock valued at $158,960 over the last ninety days. 18.91% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in EYPT. Virtu Financial LLC bought a new stake in shares of Eyepoint Pharmaceuticals in the fourth quarter worth $31,000. Arcus Capital Partners LLC acquired a new position in Eyepoint Pharmaceuticals during the first quarter worth $45,000. Private Advisor Group LLC acquired a new position in shares of Eyepoint Pharmaceuticals in the first quarter valued at $60,000. Jefferies Group LLC acquired a new position in shares of Eyepoint Pharmaceuticals in the first quarter valued at $94,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Eyepoint Pharmaceuticals by 78.5% in the fourth quarter. Bank of New York Mellon Corp now owns 51,501 shares of the company’s stock valued at $97,000 after purchasing an additional 22,645 shares during the last quarter. 51.93% of the stock is currently owned by institutional investors and hedge funds.

Eyepoint Pharmaceuticals Company Profile

EyePoint Pharmaceuticals, Inc, a specialty biopharmaceutical company, develops and commercializes ophthalmic products for the treatment of eye diseases in the United States and Europe. It provides ILUVIEN for the treatment of diabetic macular edema; YUTIQ, a non-erodible fluocinolone acetonide insert for the treatment of non-infectious posterior uveitis (NIPU) that is in the Phase III clinical trials; and Retisert (fluocinolone acetonide intravitreal implant), a sustained-release implant for the treatment of posterior segment uveitis.

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