Eyepoint Pharmaceuticals (NASDAQ:EYPT) Rating Increased to Sell 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 $28.11.
• Eyepoint shares opened at $5.32, near their 52-week low of $3.95, after the company reported a quarterly loss of $1.09 per share, missing estimates by $0.08.
• Institutional investors own 99.41% of the stock; several firms increased their positions in the second quarter, including Invesco, which nearly tripled its stake.

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

EYPT has been the subject of a number of other research reports. Citigroup reduced their price objective on Eyepoint Pharmaceuticals to $17.00 and set a "buy" rating for the company in a research note on Tuesday. HC Wainwright reissued a "neutral" rating on shares of Eyepoint Pharmaceuticals in a report on Tuesday. Royal Bank Of Canada restated a "sector perform" rating and set a $5.00 price target on shares of Eyepoint Pharmaceuticals in a research report on Tuesday. Stifel Nicolaus initiated coverage on shares of Eyepoint Pharmaceuticals in a report on Thursday, July 16th. They set a "buy" rating and a $40.00 price objective for the company. Finally, Chardan Capital downgraded shares of Eyepoint Pharmaceuticals from a "buy" rating to a "neutral" rating and set a $5.00 price objective for the company. in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $28.11.

Eyepoint Pharmaceuticals Stock Down 1.5%

Eyepoint Pharmaceuticals stock opened at $5.32 on Friday. Eyepoint Pharmaceuticals has a 52 week low of $3.95 and a 52 week high of $19.11. The company's 50 day moving average price is $12.55 and its two-hundred day moving average price is $13.38. The stock has a market cap of $458.65 million, a P/E ratio of -1.42 and a beta of 1.76.

Eyepoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its 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 the consensus estimate of $0.45 million. Eyepoint Pharmaceuticals had a negative net margin of 10,994.73% and a negative return on equity of 135.81%. On average, equities analysts anticipate that Eyepoint Pharmaceuticals will post -3.51 EPS for the current year.

Institutional Investors Weigh In On Eyepoint Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its holdings in Eyepoint Pharmaceuticals by 11.0% in the 2nd quarter. Rhumbline Advisers now owns 96,280 shares of the company's stock worth $906,000 after buying an additional 9,548 shares during the period. American Century Companies Inc. raised its holdings in Eyepoint Pharmaceuticals by 57.8% during the 2nd quarter. American Century Companies Inc. now owns 67,612 shares of the company's stock valued at $636,000 after acquiring an additional 24,752 shares during the period. Invesco Ltd. lifted its position in shares of Eyepoint Pharmaceuticals by 199.8% during the second quarter. Invesco Ltd. now owns 128,772 shares of the company's stock worth $1,212,000 after acquiring an additional 85,824 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of 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 in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in shares of Eyepoint Pharmaceuticals by 9.7% in the second quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company's stock worth $63,988,000 after acquiring an additional 600,000 shares during the period. 99.41% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source