Zacks Investment Research upgraded shares of Eyepoint Pharmaceuticals (NASDAQ:EYPT) from a hold rating to a buy rating in a report published on Tuesday, Zacks.com reports. The brokerage currently has $1.50 price target on the stock.
According to Zacks, “EyePoint Pharmaceuticals Inc. operates as a biopharmaceutical company. It engaged in the development of drug devices to treat debilitating diseases of the eye disorders and other chronic conditions. The company’s product candidate consists of DEXYCU(TM). EyePoint Pharmaceuticals Inc., formerly known as pSivida Corp., is headquartered in Watertown, MA. “
Separately, HC Wainwright set a $5.00 price objective on shares of Eyepoint Pharmaceuticals and gave the company a buy rating in a research report on Friday, July 12th.
Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.11) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.02. Eyepoint Pharmaceuticals had a negative net margin of 621.04% and a negative return on equity of 165.24%. The business had revenue of $7.21 million for the quarter, compared to analysts’ expectations of $6.75 million. As a group, equities research analysts expect that Eyepoint Pharmaceuticals will post -0.39 EPS for the current year.
A number of hedge funds have recently bought and sold shares of EYPT. Essex Woodlands Management Inc. bought a new position in Eyepoint Pharmaceuticals during the second quarter valued at $68,731,000. BlackRock Inc. increased its position in Eyepoint Pharmaceuticals by 298.2% during the second quarter. BlackRock Inc. now owns 4,635,930 shares of the company’s stock valued at $7,602,000 after acquiring an additional 3,471,613 shares during the last quarter. Essex Investment Management Co. LLC increased its position in Eyepoint Pharmaceuticals by 59.2% during the second quarter. Essex Investment Management Co. LLC now owns 875,098 shares of the company’s stock valued at $1,435,000 after acquiring an additional 325,348 shares during the last quarter. Jane Street Group LLC increased its position in Eyepoint Pharmaceuticals by 1,682.6% during the second quarter. Jane Street Group LLC now owns 202,580 shares of the company’s stock valued at $332,000 after acquiring an additional 191,216 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Eyepoint Pharmaceuticals by 882.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 143,409 shares of the company’s stock valued at $236,000 after acquiring an additional 128,809 shares during the last quarter. Institutional investors and hedge funds own 57.73% of the company’s stock.
Eyepoint Pharmaceuticals Company Profile
EyePoint Pharmaceuticals, Inc, a specialty biopharmaceutical company, develops and commercializes ophthalmic products for the treatment of eye diseases in the United States and Europe. It provides ILUVIEN for the treatment of diabetic macular edema; YUTIQ, a non-erodible fluocinolone acetonide insert for the treatment of non-infectious posterior uveitis (NIPU) that is in the Phase III clinical trials; and Retisert (fluocinolone acetonide intravitreal implant), a sustained-release implant for the treatment of posterior segment uveitis.
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