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

StockNews.com upgraded shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) to a sell rating in a research report released on Saturday morning.

Other equities analysts also recently issued reports about the stock. HC Wainwright reiterated a buy rating and set a $30.00 target price on shares of EyePoint Pharmaceuticals in a research report on Thursday, June 27th. JPMorgan Chase & Co. decreased their price objective on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an overweight rating on the stock in a research report on Tuesday, August 13th. Jefferies Financial Group assumed coverage on EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They set a buy rating and a $15.00 target price for the company. Chardan Capital reiterated a buy rating and issued a $28.00 price target on shares of EyePoint Pharmaceuticals in a report on Friday, June 28th. Finally, Cantor Fitzgerald reissued an overweight rating on shares of EyePoint Pharmaceuticals in a report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $30.57.

EyePoint Pharmaceuticals Price Performance

Shares of EYPT opened at $8.29 on Friday. The company has a market capitalization of $431.78 million, a P/E ratio of -4.55 and a beta of 1.59. EyePoint Pharmaceuticals has a one year low of $5.67 and a one year high of $30.99. The business’s 50 day simple moving average is $8.80 and its 200-day simple moving average is $12.61.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.58) EPS 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 business had revenue of $9.48 million during the quarter, compared to analyst estimates of $11.61 million. On average, sell-side analysts anticipate that EyePoint Pharmaceuticals will post -2.33 EPS for the current fiscal year.

Insider Activity at EyePoint Pharmaceuticals

In related news, Director David R. Guyer sold 11,625 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $10.06, for a total transaction of $116,947.50. Following the completion of the transaction, the director now owns 1,850 shares in the company, valued at $18,611. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.74% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Ameritas Investment Partners Inc. lifted its holdings in EyePoint Pharmaceuticals by 44.0% during the first quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock worth $77,000 after acquiring an additional 1,136 shares in the last quarter. Arizona State Retirement System grew its position in shares of EyePoint Pharmaceuticals by 9.7% in the 2nd quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $115,000 after purchasing an additional 1,171 shares during the period. Essex Investment Management Co. LLC grew its position in shares of EyePoint Pharmaceuticals by 1.5% in the 1st quarter. Essex Investment Management Co. LLC now owns 149,819 shares of the company’s stock valued at $3,097,000 after purchasing an additional 2,278 shares during the period. Janney Montgomery Scott LLC increased its stake in EyePoint Pharmaceuticals by 26.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 18,040 shares of the company’s stock worth $373,000 after purchasing an additional 3,780 shares in the last quarter. Finally, American International Group Inc. raised its holdings in EyePoint Pharmaceuticals by 38.4% during the 1st quarter. American International Group Inc. now owns 18,378 shares of the company’s stock worth $380,000 after buying an additional 5,101 shares during the period. Institutional investors and hedge funds 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.