Zacks Investment Research Downgrades Eyepoint Pharmaceuticals (NASDAQ:EYPT) to Sell

Zacks Investment Research downgraded shares of Eyepoint Pharmaceuticals (NASDAQ:EYPT) from a hold rating to a sell rating in a research report sent to investors on Thursday morning, Zacks.com reports.

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. “

Several other research analysts have also recently weighed in on the company. Guggenheim assumed coverage on Eyepoint Pharmaceuticals in a research report on Thursday, September 12th. They set a buy rating and a $4.00 price objective for the company. ValuEngine upgraded Eyepoint Pharmaceuticals from a hold rating to a buy rating in a report on Wednesday, October 2nd. B. Riley dropped their target price on Eyepoint Pharmaceuticals from $5.75 to $4.00 and set a buy rating on the stock in a report on Tuesday, September 24th. Finally, HC Wainwright reiterated a buy rating and set a $4.50 target price on shares of Eyepoint Pharmaceuticals in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $3.69.

NASDAQ:EYPT opened at $2.54 on Thursday. Eyepoint Pharmaceuticals has a 1 year low of $1.19 and a 1 year high of $2.94. The company has a current ratio of 5.46, a quick ratio of 5.31 and a debt-to-equity ratio of 1.75. The stock has a market cap of $271.06 million, a price-to-earnings ratio of -4.38 and a beta of 1.72. The stock has a 50-day moving average price of $1.85 and a two-hundred day moving average price of $1.65.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its earnings results on Wednesday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The firm had revenue of $7.21 million during the quarter, compared to analysts’ expectations of $6.75 million. Eyepoint Pharmaceuticals had a negative return on equity of 165.24% and a negative net margin of 621.04%. Sell-side analysts forecast that Eyepoint Pharmaceuticals will post -0.53 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio bought a new stake in Eyepoint Pharmaceuticals during the second quarter worth about $27,000. JPMorgan Chase & Co. bought a new stake in Eyepoint Pharmaceuticals in the second quarter valued at approximately $28,000. Wells Fargo & Company MN raised its stake in Eyepoint Pharmaceuticals by 90.0% in the second quarter. Wells Fargo & Company MN now owns 96,945 shares of the company’s stock valued at $159,000 after buying an additional 45,922 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Eyepoint Pharmaceuticals by 882.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 143,409 shares of the company’s stock valued at $236,000 after buying an additional 128,809 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Eyepoint Pharmaceuticals by 225.7% in the second quarter. Bank of New York Mellon Corp now owns 149,870 shares of the company’s stock valued at $245,000 after buying an additional 103,857 shares during the period. Institutional investors and hedge funds own 58.62% of the company’s stock.

About Eyepoint Pharmaceuticals

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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