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

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

A number of other analysts also recently commented on EYPT. Jefferies Financial Group assumed coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price objective for the company. Chardan Capital reaffirmed a “buy” rating and issued a $28.00 price target on shares of EyePoint Pharmaceuticals in a report on Friday, June 28th. JPMorgan Chase & Co. reduced 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. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of EyePoint Pharmaceuticals in a research note on Thursday, June 20th. Finally, HC Wainwright reissued a “buy” rating and set a $30.00 price target on shares of EyePoint Pharmaceuticals in a research report on Thursday, June 27th. One 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, the stock has an average rating of “Moderate Buy” and an average target price of $30.57.

EyePoint Pharmaceuticals Stock Down 2.9 %

EYPT stock opened at $8.91 on Friday. EyePoint Pharmaceuticals has a 52 week low of $5.67 and a 52 week high of $30.99. The firm has a 50-day simple moving average of $8.88 and a 200-day simple moving average of $13.03. The stock has a market capitalization of $476.86 million, a P/E ratio of -4.90 and a beta of 1.59.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results on Wednesday, August 7th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). The firm had revenue of $9.48 million for the quarter, compared to analyst estimates 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, analysts expect that EyePoint Pharmaceuticals will post -2.33 earnings per share for the current year.

Insider Activity at EyePoint Pharmaceuticals

In other news, Director David R. Guyer sold 11,625 shares of the company’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $10.06, for a total transaction of $116,947.50. Following the sale, the director now owns 1,850 shares of the company’s stock, valued at $18,611. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.74% of the company’s stock.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. grew its stake in shares of 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 purchasing an additional 1,136 shares in the last quarter. Greenwich Wealth Management LLC acquired a new position in shares of EyePoint Pharmaceuticals during the 2nd quarter worth about $94,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of EyePoint Pharmaceuticals by 271.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock valued at $95,000 after acquiring an additional 7,953 shares during the last quarter. Arizona State Retirement System raised its position in shares of EyePoint Pharmaceuticals by 9.7% during the 2nd quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock worth $115,000 after acquiring an additional 1,171 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. lifted its stake in EyePoint Pharmaceuticals by 129.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 9,393 shares of the company’s stock worth $194,000 after purchasing an additional 5,308 shares during the last quarter. 99.41% of the stock is currently owned by institutional investors and hedge funds.

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.