Eyepoint Pharmaceuticals (NASDAQ:EYPT) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded EyePoint Pharmaceuticals from “sell” to “strong sell.” Other analysts have also become more cautious, resulting in an overall “hold” consensus rating and an average price target of $25.70.
• EyePoint shares opened at $3.85, near their 52-week low of $3.41 and well below the 52-week high of $19.11. The stock’s 50-day and 200-day moving averages were $8.78 and $11.96, respectively.
• The company reported a quarterly loss of $1.09 per share, missing estimates by $0.08, while revenue of $0.51 million exceeded expectations. Analysts anticipate a full-year loss of $3.51 per share, despite institutional investors owning 99.41% of the stock.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report released on Saturday, Wall Street Zen reports.

Other analysts also recently issued reports about the stock. Chardan Capital downgraded shares of Eyepoint Pharmaceuticals from a "buy" rating to a "neutral" rating and set a $5.00 price target on the stock. in a report on Tuesday, August 18th. Royal Bank Of Canada reissued a "sector perform" rating and set a $5.00 price objective on shares of Eyepoint Pharmaceuticals in a report on Tuesday, August 18th. HC Wainwright restated a "neutral" rating on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, August 18th. Stifel Nicolaus began coverage on Eyepoint Pharmaceuticals in a research report on Thursday, July 16th. They set a "buy" rating and a $40.00 price objective for the company. Finally, Cantor Fitzgerald cut Eyepoint Pharmaceuticals from an "overweight" rating to a "neutral" rating in a report on Monday, August 17th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Eyepoint Pharmaceuticals has an average rating of "Hold" and an average price target of $25.70.

Eyepoint Pharmaceuticals Price Performance

EYPT stock opened at $3.85 on Friday. Eyepoint Pharmaceuticals has a 1-year low of $3.41 and a 1-year high of $19.11. The company has a market capitalization of $331.91 million, a price-to-earnings ratio of -1.03 and a beta of 1.63. The business has a 50 day simple moving average of $8.78 and a two-hundred day simple moving average of $11.96.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its quarterly earnings data 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). Eyepoint Pharmaceuticals had a negative net margin of 10,994.73% and a negative return on equity of 135.81%. The company had revenue of $0.51 million for the quarter, compared to the consensus estimate of $0.45 million. Sell-side analysts anticipate that Eyepoint Pharmaceuticals will post -3.51 EPS for the current fiscal year.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

A number of hedge funds have recently bought and sold shares of EYPT. Engineers Gate Manager LP bought a new position in shares of Eyepoint Pharmaceuticals in the 2nd quarter valued at about $161,000. Integrated Wealth Concepts LLC purchased a new position in Eyepoint Pharmaceuticals in the second quarter worth about $72,000. Squarepoint Ops LLC increased its stake in Eyepoint Pharmaceuticals by 22.3% during the second quarter. Squarepoint Ops LLC now owns 98,002 shares of the company's stock worth $1,401,000 after acquiring an additional 17,883 shares during the last quarter. Baird Financial Group Inc. increased its stake in Eyepoint Pharmaceuticals by 16.4% during the second quarter. Baird Financial Group Inc. now owns 32,732 shares of the company's stock worth $468,000 after acquiring an additional 4,613 shares during the last quarter. Finally, Principia Wealth Advisory LLC increased its stake in Eyepoint Pharmaceuticals by 2.6% during the second quarter. Principia Wealth Advisory LLC now owns 649,944 shares of the company's stock worth $9,294,000 after acquiring an additional 16,180 shares during the last quarter. Hedge funds and other institutional investors own 99.41% of the company's stock.

About Eyepoint Pharmaceuticals

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.

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