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 report published on Thursday.

A number of other brokerages have also weighed in on EYPT. Robert W. Baird dropped 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. JPMorgan Chase & Co. lowered their price objective on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an overweight rating for the company in a research report on Tuesday, August 13th. HC Wainwright reaffirmed a buy rating and set a $30.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, June 27th. Cantor Fitzgerald restated an overweight rating on shares of EyePoint Pharmaceuticals in a report on Thursday, June 20th. Finally, Jefferies Financial Group started coverage on shares of EyePoint Pharmaceuticals in a 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 data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $30.63.

EyePoint Pharmaceuticals Price Performance

Shares of NASDAQ EYPT opened at $7.97 on Thursday. The stock has a market cap of $415.11 million, a PE ratio of -4.38 and a beta of 1.59. EyePoint Pharmaceuticals has a 1 year low of $5.67 and a 1 year high of $30.99. The firm has a fifty day moving average price of $8.88 and a 200-day moving average price of $14.10.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of ($0.55) by ($0.03). The business had revenue of $9.48 million during the quarter, compared to analysts’ expectations of $11.61 million. EyePoint Pharmaceuticals had a negative net margin of 172.29% and a negative return on equity of 43.24%. On average, research analysts expect that EyePoint Pharmaceuticals will post -2.33 EPS for the current year.

Insider Transactions at EyePoint Pharmaceuticals

In related news, Director David R. Guyer sold 11,625 shares of the stock in a transaction that occurred 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 transaction, the director now owns 1,850 shares of the company’s stock, valued at $18,611. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.74% of the company’s stock.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of large investors have recently bought and sold shares of EYPT. Franklin Resources Inc. boosted its holdings in shares of EyePoint Pharmaceuticals by 11.8% in the 4th quarter. Franklin Resources Inc. now owns 4,640,651 shares of the company’s stock valued at $107,245,000 after buying an additional 488,206 shares in the last quarter. Vanguard Group Inc. grew its holdings in EyePoint Pharmaceuticals by 17.8% in the first quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock worth $49,530,000 after purchasing an additional 362,168 shares during the last quarter. RA Capital Management L.P. purchased a new stake in shares of EyePoint Pharmaceuticals during the 1st quarter valued at $19,401,000. Deerfield Management Company L.P. Series C lifted its holdings in shares of EyePoint Pharmaceuticals by 51.4% during 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 during the last quarter. Finally, Fiera Capital Corp boosted its position in shares of 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 in the last quarter. Institutional investors own 99.41% of the company’s stock.

About EyePoint Pharmaceuticals

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.