Eyepoint Pharmaceuticals (NASDAQ:EYPT) Rating Lowered to Strong Sell at Wall Street Zen

Eyepoint Pharmaceuticals (NASDAQ:EYPT) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report released on Saturday, Wall Street Zen reports.

Several other brokerages have also recently issued reports on EYPT. Stifel Nicolaus assumed coverage on Eyepoint Pharmaceuticals in a research note on Thursday, July 16th. They set a “buy” rating and a $40.00 price objective on the stock. Citigroup dropped their target price on shares of Eyepoint Pharmaceuticals to $17.00 and set a “buy” rating on the stock in a report on Tuesday, August 18th. Chardan Capital downgraded shares of 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. Jefferies Financial Group reduced their price target on shares of Eyepoint Pharmaceuticals to $8.00 and set a “buy” rating on the stock in a research report on Monday, August 17th. Finally, Weiss Ratings raised shares of Eyepoint Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 1st. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Eyepoint Pharmaceuticals currently has a consensus rating of “Hold” and a consensus target price of $25.70.

Eyepoint Pharmaceuticals Price Performance

Shares of NASDAQ EYPT opened at $3.85 on Friday. The stock’s 50 day moving average price is $8.78 and its two-hundred day moving average price is $11.92. Eyepoint Pharmaceuticals has a 52-week low of $3.41 and a 52-week high of $19.11. The stock has a market capitalization of $331.91 million, a P/E ratio of -1.03 and a beta of 1.63.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Wednesday, August 5th. The company reported ($1.09) 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 analyst estimates of $0.45 million. On average, analysts anticipate that Eyepoint Pharmaceuticals will post -3.51 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EYPT. Janus Henderson Group PLC increased its position in Eyepoint Pharmaceuticals by 22.6% in the first quarter. Janus Henderson Group PLC now owns 3,601,168 shares of the company’s stock worth $46,419,000 after buying an additional 663,439 shares during the period. Commodore Capital LP acquired a new position in shares of Eyepoint Pharmaceuticals during the first quarter valued at $36,414,000. Spruce Street Capital LP acquired a new position in shares of Eyepoint Pharmaceuticals during the fourth quarter valued at $17,933,000. Hsbc Holdings PLC bought a new position in shares of Eyepoint Pharmaceuticals during the first quarter worth about $10,743,000. Finally, Stempoint Capital LP grew its position in shares of Eyepoint Pharmaceuticals by 129.1% during the first quarter. Stempoint Capital LP now owns 810,764 shares of the company’s stock worth $10,451,000 after acquiring an additional 456,915 shares during the last quarter. 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.