Eyepoint Pharmaceuticals (NASDAQ:EYPT) Upgraded at Wall Street Zen

Key Points

• Wall Street Zen upgraded EyePoint Pharmaceuticals from “strong sell” to “sell,” while the broader analyst consensus remains “Hold,” with an average price target of $25.70.
• Shares opened at $3.62, near the 12-month low of $3.41 and well below the 12-month high of $19.11. The stock’s 50-day and 200-day moving averages were $7.80 and $11.49, respectively.
• EyePoint reported a quarterly loss of $1.09 per share, missing estimates by $0.08, though revenue of $0.51 million exceeded expectations. Institutional investors own approximately 99.41% of the company.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Other equities research analysts have also recently issued research reports about the stock. Guggenheim reiterated a "buy" rating and set a $68.00 price objective on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, June 24th. Cantor Fitzgerald cut shares of Eyepoint Pharmaceuticals from an "overweight" rating to a "neutral" rating in a research note on Monday, August 17th. Royal Bank Of Canada restated a "sector perform" rating and set a $5.00 price objective on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, August 18th. HC Wainwright reaffirmed a "neutral" rating on shares of Eyepoint Pharmaceuticals in a report on Tuesday, August 18th. Finally, Stifel Nicolaus began coverage on Eyepoint Pharmaceuticals in a research report on Thursday, July 16th. They issued a "buy" rating and a $40.00 target price on the stock. Four equities 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 stock. According to MarketBeat.com, Eyepoint Pharmaceuticals currently has a consensus rating of "Hold" and an average target price of $25.70.

Eyepoint Pharmaceuticals Stock Down 0.8%

Shares of EYPT opened at $3.62 on Friday. The stock has a market cap of $312.08 million, a PE ratio of -0.97 and a beta of 1.63. The business's 50-day moving average price is $7.80 and its 200-day moving average price is $11.49. Eyepoint Pharmaceuticals has a twelve month low of $3.41 and a twelve month high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last announced its quarterly 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). 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 analysts' expectations of $0.45 million. Analysts expect that Eyepoint Pharmaceuticals will post -3.51 earnings per share for the current fiscal year.

Institutional Trading of Eyepoint Pharmaceuticals

A number of large investors have recently made changes to their positions in EYPT. KBC Group NV purchased a new stake in Eyepoint Pharmaceuticals in the first quarter worth $29,000. Integrated Wealth Concepts LLC purchased a new position in shares of Eyepoint Pharmaceuticals during the second quarter valued at $72,000. Pictet Asset Management Holding SA bought a new stake in shares of Eyepoint Pharmaceuticals in the first quarter valued at about $141,000. Engineers Gate Manager LP purchased a new stake in Eyepoint Pharmaceuticals in the second quarter worth about $161,000. Finally, MCF Advisors LLC grew its holdings in Eyepoint Pharmaceuticals by 8.3% during the 4th quarter. MCF Advisors LLC now owns 14,921 shares of the company's stock worth $273,000 after acquiring an additional 1,149 shares in the last quarter. 99.41% of the stock is currently owned by institutional investors.

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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