EyePoint Pharmaceuticals (NASDAQ:EYPT) Downgraded by StockNews.com

EyePoint Pharmaceuticals (NASDAQ:EYPT) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

EYPT has been the subject of several other research reports. Robert W. Baird decreased their target price on EyePoint Pharmaceuticals from $46.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. initiated coverage on EyePoint Pharmaceuticals in a report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 price target on the stock. Capital One Financial reissued an “overweight” rating on shares of EyePoint Pharmaceuticals in a report on Friday, February 16th. HC Wainwright cut their price target on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Tuesday, January 16th. Finally, Mizuho cut their price target on EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.14.

EyePoint Pharmaceuticals Stock Up 9.6 %

Shares of EYPT traded up $1.11 during mid-day trading on Thursday, hitting $12.67. The stock had a trading volume of 2,109,945 shares, compared to its average volume of 1,137,237. The company has a market cap of $659.90 million, a PE ratio of -6.92 and a beta of 1.70. The company’s fifty day simple moving average is $20.34 and its two-hundred day simple moving average is $19.10. EyePoint Pharmaceuticals has a fifty-two week low of $5.67 and a fifty-two week high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.27. The company had revenue of $14.03 million during the quarter, compared to analyst estimates of $8.71 million. EyePoint Pharmaceuticals had a negative return on equity of 61.48% and a negative net margin of 153.84%. During the same quarter last year, the firm earned ($0.61) EPS. Equities analysts expect that EyePoint Pharmaceuticals will post -1.73 earnings per share for the current year.

Insider Buying and Selling at EyePoint Pharmaceuticals

In other EyePoint Pharmaceuticals news, major shareholder Cormorant Asset Management, Lp bought 581,765 shares of the business’s stock in a transaction on Thursday, April 18th. The shares were purchased at an average price of $18.03 per share, with a total value of $10,489,222.95. Following the purchase, the insider now directly owns 7,475,000 shares of the company’s stock, valued at $134,774,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 13.05% of the stock is owned by company insiders.

Institutional Trading of EyePoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of EYPT. Jennison Associates LLC bought a new stake in shares of EyePoint Pharmaceuticals in the 4th quarter worth $24,641,000. Franklin Resources Inc. raised its stake 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 worth $107,245,000 after buying an additional 488,206 shares in the last quarter. Federated Hermes Inc. raised its stake in shares of EyePoint Pharmaceuticals by 194.0% in the 4th quarter. Federated Hermes Inc. now owns 674,824 shares of the company’s stock worth $15,595,000 after buying an additional 445,289 shares in the last quarter. UBS Group AG raised its stake in shares of EyePoint Pharmaceuticals by 487.6% in the 3rd quarter. UBS Group AG now owns 526,848 shares of the company’s stock worth $4,210,000 after buying an additional 437,190 shares in the last quarter. Finally, First Turn Management LLC bought a new stake in shares of EyePoint Pharmaceuticals in the 4th quarter worth $7,326,000. Institutional investors 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.