Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Dropped to “Neutral” by Guggenheim

Eyepoint Pharmaceuticals (NASDAQ:EYPT) was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports.

Other analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Eyepoint Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Sunday, September 27th. Royal Bank Of Canada restated a “sector perform” rating and set a $5.00 target price on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, August 18th. TD Cowen lowered shares of Eyepoint Pharmaceuticals from a “buy” rating to a “hold” rating and lowered their price target for the company from $20.00 to $4.00 in a report on Wednesday, September 2nd. Weiss Ratings raised Eyepoint Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 1st. Finally, Chardan Capital downgraded Eyepoint Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research report on Tuesday, August 18th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.00.

Eyepoint Pharmaceuticals Stock Performance

EYPT stock traded down $2.57 during trading on Monday, reaching $0.42. The company had a trading volume of 148,507,518 shares, compared to its average volume of 2,867,290. The firm has a 50-day simple moving average of $5.02 and a 200-day simple moving average of $10.39. The company has a market cap of $36.21 million, a price-to-earnings ratio of -0.11 and a beta of 1.67. Eyepoint Pharmaceuticals has a twelve month low of $0.40 and a twelve month high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.01) by ($0.08). Eyepoint Pharmaceuticals had a negative return on equity of 135.81% and a negative net margin of 10,994.73%. The firm had revenue of $0.51 million during the quarter, compared to analysts’ expectations of $0.45 million. Sell-side analysts expect that Eyepoint Pharmaceuticals will post -3.51 earnings per share for the current year.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cyndeo Wealth Partners LLC boosted its stake in shares of Eyepoint Pharmaceuticals by 46.8% during the 3rd quarter. Cyndeo Wealth Partners LLC now owns 35,519 shares of the company’s stock worth $116,000 after acquiring an additional 11,329 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Eyepoint Pharmaceuticals during the 2nd quarter valued at about $161,000. Integrated Wealth Concepts LLC purchased a new position in shares of Eyepoint Pharmaceuticals in the 2nd quarter valued at about $72,000. Squarepoint Ops LLC increased its stake in shares of Eyepoint Pharmaceuticals by 22.3% in the 2nd quarter. Squarepoint Ops LLC now owns 98,002 shares of the company’s stock valued at $1,401,000 after purchasing an additional 17,883 shares in the last quarter. Finally, Baird Financial Group Inc. raised its holdings in Eyepoint Pharmaceuticals by 16.4% in the 2nd quarter. Baird Financial Group Inc. now owns 32,732 shares of the company’s stock worth $468,000 after purchasing an additional 4,613 shares during the period. Institutional investors and hedge funds own 99.41% of the company’s stock.

About Eyepoint Pharmaceuticals

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.