EyePoint Pharmaceuticals (NASDAQ:EYPT) Raised to Sell at StockNews.com

EyePoint Pharmaceuticals (NASDAQ:EYPT) was upgraded by investment analysts at StockNews.com to a “sell” rating in a report issued on Saturday.

Several other equities research analysts have also recently issued reports on the company. HC Wainwright restated a “buy” rating and set a $30.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, June 27th. Jefferies Financial Group began coverage on EyePoint Pharmaceuticals in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective on the stock. JPMorgan Chase & Co. decreased their price objective on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Cantor Fitzgerald restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a report on Thursday, June 20th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $28.00 target price on shares of EyePoint Pharmaceuticals in a research report on Friday, June 28th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, EyePoint Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $30.57.

EyePoint Pharmaceuticals Price Performance

EYPT opened at $8.91 on Friday. The stock has a market cap of $464.07 million, a P/E ratio of -4.90 and a beta of 1.59. The stock’s 50 day simple moving average is $8.85 and its 200 day simple moving average is $12.73. EyePoint Pharmaceuticals has a 1-year low of $5.67 and a 1-year high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). The firm had revenue of $9.48 million during the quarter, compared to analyst estimates of $11.61 million. EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. Research analysts expect that EyePoint Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Insider Buying and Selling

In other EyePoint Pharmaceuticals news, Director David R. Guyer sold 11,625 shares of the firm’s stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $10.06, for a total value of $116,947.50. Following the transaction, the director now directly owns 1,850 shares of the company’s stock, valued at $18,611. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.74% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. raised its position in EyePoint Pharmaceuticals by 44.0% in the first quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock valued at $77,000 after purchasing an additional 1,136 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in shares of EyePoint Pharmaceuticals by 129.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,393 shares of the company’s stock valued at $194,000 after acquiring an additional 5,308 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of EyePoint Pharmaceuticals during the first quarter valued at about $209,000. Greenwich Wealth Management LLC acquired a new stake in shares of EyePoint Pharmaceuticals during the second quarter valued at about $94,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of EyePoint Pharmaceuticals by 271.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock valued at $95,000 after acquiring an additional 7,953 shares in the last quarter. 99.41% of the stock is owned by hedge funds and other institutional investors.

About EyePoint Pharmaceuticals

EyePoint Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing therapeutics to improve the lives of patients with serious retinal diseases. The company's pipeline leverages its proprietary bioerodible Durasert E technology for sustained intraocular drug delivery.