Eyepoint Pharmaceuticals (NASDAQ:EYPT) Downgraded by Jefferies Financial Group to “Hold”

Eyepoint Pharmaceuticals (NASDAQ:EYPT) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Monday, Briefing.com reports. They currently have a $1.00 price target on the stock. Jefferies Financial Group’s price objective would suggest a potential upside of 111.86% from the company’s current price.

A number of other analysts have also commented on the company. HC Wainwright reaffirmed a “neutral” rating on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, August 18th. Stifel Nicolaus began coverage on Eyepoint Pharmaceuticals in a research note on Thursday, July 16th. They issued a “buy” rating and a $40.00 price objective for the company. Royal Bank Of Canada restated a “sector perform” rating and issued a $5.00 target price on shares of Eyepoint Pharmaceuticals in a report on Tuesday, August 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Eyepoint Pharmaceuticals in a research report on Monday, August 17th. Finally, Weiss Ratings upgraded Eyepoint Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 1st. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Eyepoint Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $25.00.

Eyepoint Pharmaceuticals Trading Down 84.2%

EYPT stock traded down $2.52 during trading on Monday, hitting $0.47. The company had a trading volume of 82,622,550 shares, compared to its average volume of 2,423,693. The business has a 50-day moving average of $5.02 and a 200-day moving average of $10.39. Eyepoint Pharmaceuticals has a one year low of $0.43 and a one year high of $19.11. The stock has a market cap of $40.69 million, a PE ratio of -0.13 and a beta of 1.67.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results 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). The firm had revenue of $0.51 million during the quarter, compared to analyst estimates of $0.45 million. Eyepoint Pharmaceuticals had a negative net margin of 10,994.73% and a negative return on equity of 135.81%. Research analysts forecast that Eyepoint Pharmaceuticals will post -3.51 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EYPT. Janus Henderson Group PLC grew its position in Eyepoint Pharmaceuticals by 22.6% in the 1st quarter. Janus Henderson Group PLC now owns 3,601,168 shares of the company’s stock worth $46,419,000 after purchasing an additional 663,439 shares in the last quarter. Commodore Capital LP bought a new stake in Eyepoint Pharmaceuticals during the first quarter worth $36,414,000. Hsbc Holdings PLC purchased a new position in Eyepoint Pharmaceuticals in the first quarter worth $10,743,000. Stempoint Capital LP grew its stake in 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 during the period. Finally, Principia Wealth Advisory LLC increased its position in shares of Eyepoint Pharmaceuticals by 2.6% during the 2nd quarter. Principia Wealth Advisory LLC now owns 649,944 shares of the company’s stock valued at $9,294,000 after purchasing an additional 16,180 shares during the last quarter. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

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.