Eyepoint Pharmaceuticals (NASDAQ:EYPT) Lifted to “Hold” at Zacks Investment Research

Eyepoint Pharmaceuticals (NASDAQ:EYPT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, 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. “

A number of other equities analysts have also recently issued reports on the stock. HC Wainwright cut shares of Eyepoint Pharmaceuticals from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. B. Riley dropped their target price on shares of Eyepoint Pharmaceuticals from $5.75 to $4.00 and set a “buy” rating for the company in a research report on Tuesday, September 24th. Guggenheim began coverage on Eyepoint Pharmaceuticals in a research note on Thursday, September 12th. They issued a “buy” rating and a $4.00 price target on the stock. Laidlaw began coverage on Eyepoint Pharmaceuticals in a research report on Monday, November 4th. They issued a “buy” rating and a $5.00 price target on the stock. Finally, ValuEngine cut Eyepoint Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, November 8th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $3.95.

Shares of NASDAQ EYPT traded down $0.02 during mid-day trading on Tuesday, hitting $1.47. The company’s stock had a trading volume of 542,947 shares, compared to its average volume of 441,640. The stock has a market cap of $158.93 million, a price-to-earnings ratio of -2.53 and a beta of 1.65. The company has a debt-to-equity ratio of 3.12, a current ratio of 4.54 and a quick ratio of 4.29. Eyepoint Pharmaceuticals has a one year low of $1.19 and a one year high of $2.82. The company’s fifty day simple moving average is $1.88 and its 200-day simple moving average is $1.68.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.01). Eyepoint Pharmaceuticals had a negative return on equity of 250.32% and a negative net margin of 409.07%. The business had revenue of $2.51 million for the quarter, compared to the consensus estimate of $4.81 million. On average, sell-side analysts predict that Eyepoint Pharmaceuticals will post -0.54 EPS for the current year.

Several hedge funds have recently made changes to their positions in EYPT. State Street Corp raised its position in shares of Eyepoint Pharmaceuticals by 16.0% in the 3rd quarter. State Street Corp now owns 900,256 shares of the company’s stock valued at $1,629,000 after acquiring an additional 124,053 shares during the period. Creative Planning bought a new stake in Eyepoint Pharmaceuticals in the third quarter valued at approximately $47,000. River & Mercantile Asset Management LLP bought a new stake in Eyepoint Pharmaceuticals in the second quarter valued at approximately $1,435,000. Jane Street Group LLC raised its holdings in Eyepoint Pharmaceuticals by 1,682.6% in the second quarter. Jane Street Group LLC now owns 202,580 shares of the company’s stock worth $332,000 after purchasing an additional 191,216 shares during the period. Finally, Essex Woodlands Management Inc. acquired a new stake in Eyepoint Pharmaceuticals in the second quarter worth $68,731,000. 56.86% of the stock is owned by institutional investors.

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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