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

Wall Street Zen lowered shares of Eyepoint Pharmaceuticals (NASDAQ:EYPT) from a sell rating to a strong sell rating in a research report report published on Saturday,Wall Street Zen reports.

A number of other research analysts also recently issued reports on EYPT. Cantor Fitzgerald downgraded shares of Eyepoint Pharmaceuticals from an “overweight” rating to a “neutral” rating in a research report on Monday, August 17th. TD Cowen cut shares of Eyepoint Pharmaceuticals from a “buy” rating to a “hold” rating and reduced their price target for the stock from $20.00 to $4.00 in a report on Wednesday, September 2nd. Citigroup decreased their price target on shares of Eyepoint Pharmaceuticals to $17.00 and set a “buy” rating for the company in a research note on Tuesday, August 18th. Jefferies Financial Group dropped their price objective on shares of Eyepoint Pharmaceuticals to $8.00 and set a “buy” rating on the stock in a report on Monday, August 17th. Finally, Chardan Capital cut shares of Eyepoint Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $5.00 price objective on the stock. in a research report on Tuesday, August 18th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Eyepoint Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $25.70.

Eyepoint Pharmaceuticals Price Performance

NASDAQ EYPT opened at $4.02 on Friday. The stock has a market capitalization of $346.56 million, a P/E ratio of -1.07 and a beta of 1.63. The business has a 50 day simple moving average of $8.58 and a 200 day simple moving average of $11.82. Eyepoint Pharmaceuticals has a one year low of $3.41 and a one year high of $19.11.

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

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

A number of large investors have recently modified their holdings of the company. California State Teachers Retirement System lifted its stake in shares of Eyepoint Pharmaceuticals by 2,158.3% in the first quarter. California State Teachers Retirement System now owns 105,101 shares of the company’s stock valued at $1,355,000 after buying an additional 100,447 shares in the last quarter. Commodore Capital LP bought a new stake in shares of Eyepoint Pharmaceuticals during the first quarter worth about $36,414,000. Simplify Asset Management Inc. increased its position in shares of Eyepoint Pharmaceuticals by 314.9% during the fourth quarter. Simplify Asset Management Inc. now owns 375,264 shares of the company’s stock worth $6,856,000 after acquiring an additional 284,824 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Eyepoint Pharmaceuticals in the 1st quarter worth about $3,869,000. Finally, Swiss National Bank acquired a new stake in shares of Eyepoint Pharmaceuticals in the 1st quarter worth about $1,900,000. 99.41% of the stock is currently owned by institutional investors.

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.