Eyepoint Pharmaceuticals (NASDAQ:EYPT) Lowered to Hold Rating by TD Cowen

Eyepoint Pharmaceuticals (NASDAQ:EYPT) was downgraded by analysts at TD Cowen from a “buy” rating to a “hold” rating in a report released on Wednesday, Marketbeat Ratings reports. They currently have a $4.00 price target on the stock. TD Cowen’s price objective suggests a potential downside of 12.66% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Citigroup decreased their price objective on shares of Eyepoint Pharmaceuticals to $17.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Eyepoint Pharmaceuticals in a research note on Monday, August 17th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $5.00 target price on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, August 18th. Jefferies Financial Group decreased their price target on shares of Eyepoint Pharmaceuticals to $8.00 and set a “buy” rating for the company in a research note on Monday, August 17th. Finally, Cantor Fitzgerald cut Eyepoint Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research note on Monday, August 17th. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.70.

Eyepoint Pharmaceuticals Stock Up 1.8%

EYPT stock opened at $4.58 on Wednesday. Eyepoint Pharmaceuticals has a twelve month low of $3.95 and a twelve month high of $19.11. The firm has a market cap of $394.84 million, a price-to-earnings ratio of -1.22 and a beta of 1.64. The business’s fifty day simple moving average is $11.35 and its two-hundred day simple moving average is $12.97.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Wednesday, August 5th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.01) by ($0.08). The company had revenue of $0.51 million for the quarter, compared to analysts’ expectations of $0.45 million. Eyepoint Pharmaceuticals had a negative net margin of 10,994.73% and a negative return on equity of 135.81%. Research analysts expect that Eyepoint Pharmaceuticals will post -3.51 EPS for the current year.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Several large investors have recently modified their holdings of EYPT. Janus Henderson Group PLC bought a new position in shares of Eyepoint Pharmaceuticals during the fourth quarter valued at approximately $53,658,000. Commodore Capital LP bought a new position in Eyepoint Pharmaceuticals in the first quarter worth approximately $36,414,000. Paradigm Biocapital Advisors LP bought a new position in Eyepoint Pharmaceuticals in the third quarter worth approximately $28,556,000. Orbimed Advisors LLC purchased a new stake in Eyepoint Pharmaceuticals during the third quarter worth $25,575,000. Finally, Suvretta Capital Management LLC lifted its holdings in Eyepoint Pharmaceuticals by 26.4% during the fourth quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock worth $143,012,000 after buying an additional 1,634,970 shares during the period. Institutional investors own 99.41% of the company’s stock.

Eyepoint Pharmaceuticals Company Profile

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.