Zacks Investment Research Lowers Eyepoint Pharmaceuticals (NASDAQ:EYPT) to Sell

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Zacks Investment Research cut shares of Eyepoint Pharmaceuticals (NASDAQ:EYPT) from a hold rating to a sell rating in a research note released on Monday, September 17th.

According to Zacks, “EyePoint Pharmaceuticals Inc. operates as a biopharmaceutical company. It engaged in the development of drug devices to treat debilitating diseases of the eye disorders and other chronic conditions. The company’s product candidate consists of DEXYCU(TM). EyePoint Pharmaceuticals Inc., formerly known as pSivida Corp., is headquartered in Watertown, MA. “

Several other brokerages have also issued reports on EYPT. HC Wainwright reiterated a buy rating and issued a $2.75 target price on shares of Eyepoint Pharmaceuticals in a research report on Thursday, September 13th. ValuEngine upgraded shares of Eyepoint Pharmaceuticals from a sell rating to a hold rating in a research report on Tuesday, May 29th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $5.20.

Shares of Eyepoint Pharmaceuticals stock traded up $0.17 during trading on Monday, hitting $3.23. The stock had a trading volume of 503,857 shares, compared to its average volume of 526,088. Eyepoint Pharmaceuticals has a 12 month low of $0.93 and a 12 month high of $3.94. The stock has a market cap of $192.89 million, a P/E ratio of -5.57 and a beta of 0.83. The company has a debt-to-equity ratio of 1.48, a quick ratio of 1.84 and a current ratio of 1.84.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results on Wednesday, September 12th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.08). Eyepoint Pharmaceuticals had a negative return on equity of 301.45% and a negative net margin of 1,795.71%. The company had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $0.67 million. Sell-side analysts predict that Eyepoint Pharmaceuticals will post -0.42 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. FineMark National Bank & Trust purchased a new stake in Eyepoint Pharmaceuticals during the second quarter valued at about $118,000. California Public Employees Retirement System bought a new position in shares of Eyepoint Pharmaceuticals during the second quarter valued at about $135,000. Creative Planning bought a new position in shares of Eyepoint Pharmaceuticals during the second quarter valued at about $162,000. Essex Investment Management Co. LLC bought a new position in shares of Eyepoint Pharmaceuticals during the second quarter valued at about $170,000. Finally, Bard Associates Inc. bought a new position in shares of Eyepoint Pharmaceuticals during the second quarter valued at about $189,000. Institutional investors and hedge funds own 62.93% of the company’s stock.

Eyepoint Pharmaceuticals Company Profile

EyePoint Pharmaceuticals, Inc, a specialty biopharmaceutical company, engages in developing and commercializing ophthalmic products in indications with high unmet medical need to help improve the lives of patients with eye disorders. The company has developed three FDA-approved sustained-release treatments in ophthalmology, including DEXYCU (dexamethasone intraocular suspension), which is administered as a single intraocular dose at the end of ocular surgery for postoperative inflammation; ILUVIEN (fluocinolone acetonide intravitreal implant), a micro-insert for diabetic macular edema; and Retisert (fluocinolone acetonide intravitreal implant) for posterior uveitis.

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