EyePoint Pharmaceuticals (NASDAQ:EYPT) Upgraded by StockNews.com to “Sell” Rating

EyePoint Pharmaceuticals (NASDAQ:EYPT) was upgraded by equities researchers at StockNews.com to a “sell” rating in a note issued to investors on Friday.

Several other research firms have also recently issued reports on EYPT. HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Thursday, March 6th. Citigroup initiated coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They set a “buy” rating and a $33.00 price target for the company. Finally, Chardan Capital reiterated a “buy” rating and issued a $33.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $26.63.

EyePoint Pharmaceuticals Price Performance

EyePoint Pharmaceuticals stock opened at $6.52 on Friday. The stock has a market capitalization of $448.11 million, a PE ratio of -3.26 and a beta of 1.41. The business has a 50 day simple moving average of $7.19 and a 200-day simple moving average of $8.39. EyePoint Pharmaceuticals has a 12 month low of $5.54 and a 12 month high of $23.97.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results on Wednesday, March 5th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.10). The firm had revenue of $11.60 million during the quarter, compared to analysts’ expectations of $11.02 million. EyePoint Pharmaceuticals had a negative net margin of 226.57% and a negative return on equity of 43.01%. On average, equities research analysts anticipate that EyePoint Pharmaceuticals will post -2.13 EPS for the current fiscal year.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP grew its holdings in shares of EyePoint Pharmaceuticals by 129.6% during the 3rd quarter. GSA Capital Partners LLP now owns 32,979 shares of the company’s stock worth $264,000 after purchasing an additional 18,616 shares during the period. Intech Investment Management LLC purchased a new stake in EyePoint Pharmaceuticals during the third quarter worth approximately $136,000. Charles Schwab Investment Management Inc. increased its position in shares of EyePoint Pharmaceuticals by 5.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 142,763 shares of the company’s stock worth $1,141,000 after acquiring an additional 7,967 shares in the last quarter. Patient Square Capital LP purchased a new position in shares of EyePoint Pharmaceuticals in the 3rd quarter valued at $10,882,000. Finally, Wellington Management Group LLP raised its stake in shares of EyePoint Pharmaceuticals by 59.4% in the 3rd quarter. Wellington Management Group LLP now owns 171,764 shares of the company’s stock valued at $1,372,000 after acquiring an additional 64,008 shares during the period. Hedge funds and other institutional investors own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Company Profile

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.