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

Eyepoint Pharmaceuticals (NASDAQ:EYPT) was upgraded by equities research analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Other equities analysts have also recently issued reports about the stock. Cantor Fitzgerald cut shares of Eyepoint Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research note on Monday, August 17th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $5.00 price target on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, August 18th. TD Cowen cut shares of Eyepoint Pharmaceuticals from a “buy” rating to a “hold” rating and cut their price target for the company from $20.00 to $4.00 in a research note on Wednesday, September 2nd. Jefferies Financial Group decreased their price objective on shares of Eyepoint Pharmaceuticals to $8.00 and set a “buy” rating for the company in a research report on Monday, August 17th. Finally, Chardan Capital lowered shares of Eyepoint Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $5.00 price objective on the stock. in a research note on Tuesday, August 18th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Eyepoint Pharmaceuticals presently has an average rating of “Hold” and a consensus target price of $25.70.

Eyepoint Pharmaceuticals Stock Performance

Shares of NASDAQ EYPT opened at $3.31 on Friday. The stock has a 50 day moving average price of $7.61 and a 200 day moving average price of $11.38. The stock has a market capitalization of $285.36 million, a PE ratio of -0.89 and a beta of 1.63. Eyepoint Pharmaceuticals has a 52 week low of $3.27 and a 52 week high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.09) earnings per share 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 company had revenue of $0.51 million for the quarter, compared to analyst estimates of $0.45 million. As a group, research analysts forecast that Eyepoint Pharmaceuticals will post -3.51 EPS for the current year.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its holdings in shares of Eyepoint Pharmaceuticals by 2,158.3% in 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 during the last quarter. Commodore Capital LP acquired a new stake in shares of Eyepoint Pharmaceuticals during the 1st quarter worth about $36,414,000. Walleye Capital LLC acquired a new stake in shares of Eyepoint Pharmaceuticals during the 1st quarter worth about $3,869,000. Stempoint Capital LP boosted its holdings in shares of Eyepoint Pharmaceuticals by 129.1% during the 1st quarter. Stempoint Capital LP now owns 810,764 shares of the company’s stock worth $10,451,000 after buying an additional 456,915 shares during the period. Finally, Swiss National Bank bought a new stake in shares of Eyepoint Pharmaceuticals during the 1st quarter worth about $1,900,000. Institutional investors and hedge funds own 99.41% of the company’s stock.

Eyepoint Pharmaceuticals Company Profile

EyePoint Pharmaceuticals, Inc is a commercial-stage biotechnology company focused on developing and delivering treatments for serious eye diseases. The company’s proprietary technology is designed to provide sustained, localized release of pharmaceutical compounds within the eye, with the goal of reducing treatment frequency and improving outcomes for patients and physicians.

EyePoint’s commercial products include YUTIQ, an injectable fluocinolone acetonide implant for the treatment of chronic noninfectious uveitis affecting the posterior segment of the eye, and DEXYCU, a sustained-release dexamethasone intraocular suspension used to treat inflammation following ophthalmic surgery.