Eyepoint Pharmaceuticals (NASDAQ:EYPT) Upgraded to Strong-Buy at TD Cowen

TD Cowen upgraded shares of Eyepoint Pharmaceuticals (NASDAQ:EYPT) to a strong-buy rating in a research report report published on Friday,Zacks.com reports.

EYPT has been the topic of a number of other research reports. Cantor Fitzgerald upgraded shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research report on Tuesday, November 25th. Mizuho set a $28.00 target price on shares of Eyepoint Pharmaceuticals in a research note on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada increased their price target on Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Eyepoint Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $30.00.

Eyepoint Pharmaceuticals Trading Up 2.2%

NASDAQ EYPT opened at $17.43 on Friday. The firm has a market capitalization of $1.44 billion, a PE ratio of -5.83 and a beta of 1.67. The business’s 50-day moving average price is $13.70 and its two-hundred day moving average price is $12.03. Eyepoint Pharmaceuticals has a 12 month low of $3.91 and a 12 month high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.08). Eyepoint Pharmaceuticals had a negative return on equity of 76.13% and a negative net margin of 485.95%.The company had revenue of $0.97 million for the quarter, compared to the consensus estimate of $3.33 million. As a group, analysts forecast that Eyepoint Pharmaceuticals will post -2.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

A number of large investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC raised its holdings in shares of Eyepoint Pharmaceuticals by 1,636.5% during the second quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock valued at $27,000 after purchasing an additional 2,733 shares during the period. State of Alaska Department of Revenue bought a new stake in Eyepoint Pharmaceuticals in the 3rd quarter valued at about $50,000. Russell Investments Group Ltd. bought a new stake in Eyepoint Pharmaceuticals in the 3rd quarter valued at about $76,000. Tower Research Capital LLC TRC raised its stake in Eyepoint Pharmaceuticals by 218.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock worth $82,000 after buying an additional 5,967 shares during the period. Finally, R Squared Ltd bought a new position in Eyepoint Pharmaceuticals in the second quarter worth approximately $100,000. 99.41% of the stock is currently owned by institutional investors and hedge funds.

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.