StockNews.com Upgrades EyePoint Pharmaceuticals (NASDAQ:EYPT) to “Sell”

EyePoint Pharmaceuticals (NASDAQ:EYPT) was upgraded by StockNews.com to a “sell” rating in a research note issued to investors on Thursday.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. cut their target price on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Chardan Capital reaffirmed a “buy” rating and issued a $28.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Friday, June 28th. Robert W. Baird decreased their target price on shares of EyePoint Pharmaceuticals from $46.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of EyePoint Pharmaceuticals in a report on Thursday, June 20th. Finally, Jefferies Financial Group began coverage on EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target on the stock. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. According to MarketBeat.com, EyePoint Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $30.63.

EyePoint Pharmaceuticals Price Performance

NASDAQ:EYPT opened at $7.97 on Thursday. EyePoint Pharmaceuticals has a 1-year low of $5.67 and a 1-year high of $30.99. The company has a 50-day moving average of $8.88 and a 200 day moving average of $14.19. The firm has a market cap of $426.55 million, a PE ratio of -4.38 and a beta of 1.59.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its earnings results on Wednesday, August 7th. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. The company had revenue of $9.48 million for the quarter, compared to analysts’ expectations of $11.61 million. Sell-side analysts anticipate that EyePoint Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Insider Activity

In related news, Director David R. Guyer sold 11,625 shares of the firm’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $10.06, for a total value of $116,947.50. Following the completion of the transaction, the director now owns 1,850 shares in the company, valued at approximately $18,611. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.74% of the company’s stock.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in EyePoint Pharmaceuticals by 11.8% in the fourth quarter. Franklin Resources Inc. now owns 4,640,651 shares of the company’s stock valued at $107,245,000 after acquiring an additional 488,206 shares during the period. Vanguard Group Inc. grew its position in shares of EyePoint Pharmaceuticals by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock valued at $49,530,000 after acquiring an additional 362,168 shares during the period. RA Capital Management L.P. purchased a new position in shares of EyePoint Pharmaceuticals in the 1st quarter valued at about $19,401,000. Deerfield Management Company L.P. Series C increased its stake in shares of EyePoint Pharmaceuticals by 51.4% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock valued at $7,637,000 after purchasing an additional 298,196 shares in the last quarter. Finally, Fiera Capital Corp raised its holdings in EyePoint Pharmaceuticals by 0.9% in the 2nd quarter. Fiera Capital Corp now owns 677,038 shares of the company’s stock worth $5,890,000 after purchasing an additional 5,920 shares during the period. Hedge funds and other institutional investors own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Company Profile

EyePoint Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing therapeutics to improve the lives of patients with serious retinal diseases. The company's pipeline leverages its proprietary bioerodible Durasert E technology for sustained intraocular drug delivery.