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

Key Points

• TD Cowen downgraded Eyepoint Pharmaceuticals from “buy” to “hold” and set a $4.00 price target, implying 12.66% downside from the $4.58 opening price.
• Analyst sentiment has weakened, with the stock carrying a consensus “hold” rating from 11 analysts: four buys, six holds and one sell. The average price target is $25.70, though several firms recently lowered ratings or targets.
• Eyepoint reported a quarterly loss of $1.09 per share, missing the $1.01 consensus estimate, while revenue of $0.51 million exceeded expectations. Institutional investors own 99.41% of the company’s shares.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) was downgraded by equities research analysts at TD Cowen from a "buy" rating to a "hold" rating in a research report issued on Wednesday, Marketbeat Ratings reports. They presently have a $4.00 price objective on the stock. TD Cowen's price target suggests a potential downside of 12.66% from the company's current price.

A number of other equities analysts have also recently commented on EYPT. Wall Street Zen raised shares of Eyepoint Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 22nd. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Eyepoint Pharmaceuticals in a report on Monday, August 17th. Jefferies Financial Group dropped their price target on Eyepoint Pharmaceuticals to $8.00 and set a "buy" rating for the company in a research report on Monday, August 17th. Weiss Ratings cut Eyepoint Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Monday, August 17th. Finally, Cantor Fitzgerald downgraded Eyepoint Pharmaceuticals from an "overweight" rating to a "neutral" rating in a research report 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 MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $25.70.

Eyepoint Pharmaceuticals Price Performance

NASDAQ:EYPT opened at $4.58 on Wednesday. Eyepoint Pharmaceuticals has a 1 year low of $3.95 and a 1 year high of $19.11. The stock's 50 day simple moving average is $11.35 and its two-hundred day simple moving average is $12.97. The company has a market cap of $394.84 million, a price-to-earnings ratio of -1.22 and a beta of 1.64.

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

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Janus Henderson Group PLC purchased a new position in shares of Eyepoint Pharmaceuticals during the 4th quarter worth about $53,658,000. Commodore Capital LP purchased a new stake in Eyepoint Pharmaceuticals in the 1st quarter worth about $36,414,000. Paradigm Biocapital Advisors LP purchased a new stake in Eyepoint Pharmaceuticals in the 3rd quarter worth about $28,556,000. Orbimed Advisors LLC bought a new stake in Eyepoint Pharmaceuticals in the third quarter worth about $25,575,000. Finally, Suvretta Capital Management LLC lifted its stake in Eyepoint Pharmaceuticals by 26.4% in the fourth quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company's stock worth $143,012,000 after purchasing an additional 1,634,970 shares during the last quarter. Hedge funds and other 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.

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