Eyepoint Pharmaceuticals (NASDAQ:EYPT) Raised to “Sell” at Wall Street Zen

Eyepoint Pharmaceuticals (NASDAQ:EYPT) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also commented on EYPT. HC Wainwright reiterated a “neutral” rating on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, August 18th. Chardan Capital downgraded Eyepoint Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a research report on Tuesday, August 18th. Guggenheim restated a “buy” rating and set a $68.00 price objective on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, June 24th. Stifel Nicolaus started coverage on Eyepoint Pharmaceuticals in a research note on Thursday, July 16th. They issued a “buy” rating and a $40.00 price objective on the stock. Finally, Jefferies Financial Group reduced their target price on Eyepoint Pharmaceuticals to $8.00 and set a “buy” rating on the stock in a report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Eyepoint Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $28.11.

Eyepoint Pharmaceuticals Price Performance

EYPT opened at $5.32 on Friday. Eyepoint Pharmaceuticals has a fifty-two week low of $3.95 and a fifty-two week high of $19.11. The firm has a market capitalization of $458.64 million, a price-to-earnings ratio of -1.42 and a beta of 1.76. The company’s 50 day moving average price is $12.55 and its two-hundred day moving average price is $13.38.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results 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 analyst estimates 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, equities research analysts predict that Eyepoint Pharmaceuticals will post -3.51 EPS for the current year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Suvretta Capital Management LLC grew its position in Eyepoint Pharmaceuticals by 26.4% in the 4th quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock valued at $143,012,000 after purchasing an additional 1,634,970 shares during the period. Adage Capital Partners GP L.L.C. raised its holdings in Eyepoint Pharmaceuticals by 9.7% during the second quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock worth $63,988,000 after buying an additional 600,000 shares during the last quarter. Federated Hermes Inc. raised its holdings in Eyepoint Pharmaceuticals by 36.3% during the fourth quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock worth $109,938,000 after buying an additional 1,601,101 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Eyepoint Pharmaceuticals by 19.3% in the fourth quarter. Franklin Resources Inc. now owns 4,976,915 shares of the company’s stock valued at $90,928,000 after buying an additional 805,031 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Eyepoint Pharmaceuticals by 27.1% in the fourth quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock valued at $88,100,000 after buying an additional 1,027,623 shares in the last quarter. Institutional investors own 99.41% of the company’s stock.

About Eyepoint Pharmaceuticals

Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company’s proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint’s commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.

Eyepoint’s lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.