Cantor Fitzgerald Downgrades Eyepoint Pharmaceuticals (NASDAQ:EYPT) to Neutral

Key Points

• Cantor Fitzgerald downgraded Eyepoint Pharmaceuticals from “overweight” to “neutral,” although analysts overall maintain a “Moderate Buy” consensus with a $44.38 price target.
• Shares fell $10.59 to $4.16 in Monday trading, near the company’s 52-week low of $3.95, with volume significantly above average.
• Eyepoint reported a quarterly loss of $1.09 per share, missing estimates by $0.08, while revenue of $0.51 million exceeded analyst expectations.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) was downgraded by research analysts at Cantor Fitzgerald from an "overweight" rating to a "neutral" rating in a report released on Monday.

EYPT has been the subject of several other research reports. Guggenheim reissued a "buy" rating and issued a $68.00 price objective on shares of Eyepoint Pharmaceuticals in a report on Wednesday, June 24th. HC Wainwright reduced their price target on Eyepoint Pharmaceuticals from $30.00 to $27.00 and set a "buy" rating for the company in a research report on Thursday, August 6th. Stifel Nicolaus began coverage on Eyepoint Pharmaceuticals in a report on Thursday, July 16th. They issued a "buy" rating and a $40.00 price target for the company. Royal Bank Of Canada lowered their price objective on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an "outperform" rating on the stock in a research report on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eyepoint Pharmaceuticals in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $44.38.

Eyepoint Pharmaceuticals Stock Performance

NASDAQ EYPT traded down $10.59 during trading hours on Monday, reaching $4.16. The stock had a trading volume of 13,747,161 shares, compared to its average volume of 1,343,240. The stock has a fifty day moving average of $13.23 and a 200 day moving average of $13.70. The stock has a market cap of $358.63 million, a P/E ratio of -1.11 and a beta of 1.76. Eyepoint Pharmaceuticals has a 52-week low of $3.95 and a 52-week high of $19.11.

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 for the quarter, missing analysts' consensus estimates of ($1.01) by ($0.08). Eyepoint Pharmaceuticals had a negative return on equity of 135.81% and a negative net margin of 10,994.73%.The business had revenue of $0.51 million during the quarter, compared to analyst estimates of $0.45 million. On average, equities research analysts forecast that Eyepoint Pharmaceuticals will post -3.6 EPS for the current year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System grew its holdings in shares of Eyepoint Pharmaceuticals by 20.6% during the fourth quarter. California State Teachers Retirement System now owns 4,654 shares of the company's stock worth $85,000 after buying an additional 794 shares in the last quarter. RWC Asset Management LLP lifted its stake in shares of Eyepoint Pharmaceuticals by 6.4% in the fourth quarter. RWC Asset Management LLP now owns 17,235 shares of the company's stock worth $315,000 after buying an additional 1,040 shares in the last quarter. MCF Advisors LLC lifted its stake in shares of Eyepoint Pharmaceuticals by 8.3% in the fourth quarter. MCF Advisors LLC now owns 14,921 shares of the company's stock worth $273,000 after buying an additional 1,149 shares in the last quarter. Raymond James Financial Inc. boosted its position in Eyepoint Pharmaceuticals by 11.0% during the second quarter. Raymond James Financial Inc. now owns 11,900 shares of the company's stock worth $112,000 after acquiring an additional 1,177 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Eyepoint Pharmaceuticals by 51.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,023 shares of the company's stock worth $74,000 after acquiring an additional 1,358 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 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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