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

StockNews.com upgraded shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) to a sell rating in a research note issued to investors on Saturday.

Other equities analysts also recently issued reports about the company. JPMorgan Chase & Co. lowered their price objective on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an overweight rating for the company in a research report on Tuesday, August 13th. Chardan Capital restated a buy rating and set a $28.00 price target on shares of EyePoint Pharmaceuticals in a report on Friday, June 28th. Cantor Fitzgerald reaffirmed an overweight rating on shares of EyePoint Pharmaceuticals in a research note on Thursday, June 20th. HC Wainwright reissued a buy rating and set a $30.00 target price on shares of EyePoint Pharmaceuticals in a research note on Thursday, June 27th. Finally, Jefferies Financial Group initiated coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They set a buy rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, EyePoint Pharmaceuticals presently has a consensus rating of Moderate Buy and an average target price of $30.57.

EyePoint Pharmaceuticals Stock Performance

Shares of NASDAQ EYPT opened at $8.91 on Friday. The firm has a 50 day moving average price of $8.85 and a two-hundred day moving average price of $12.83. The stock has a market cap of $464.07 million, a P/E ratio of -4.90 and a beta of 1.59. EyePoint Pharmaceuticals has a 52-week low of $5.67 and a 52-week high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.58) earnings per share 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 the consensus estimate of $11.61 million. EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. Analysts predict that EyePoint Pharmaceuticals will post -2.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director David R. Guyer sold 11,625 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $10.06, for a total transaction of $116,947.50. Following the transaction, the director now owns 1,850 shares in the company, valued at $18,611. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.74% of the stock is owned by insiders.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of EYPT. Ameritas Investment Partners Inc. lifted its holdings in shares of EyePoint Pharmaceuticals by 44.0% in the 1st 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. Arizona State Retirement System lifted its stake in shares of EyePoint Pharmaceuticals by 9.7% in the second quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $115,000 after buying an additional 1,171 shares in the last quarter. Essex Investment Management Co. LLC grew its holdings in shares of EyePoint Pharmaceuticals by 1.5% during the first quarter. Essex Investment Management Co. LLC now owns 149,819 shares of the company’s stock valued at $3,097,000 after buying an additional 2,278 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of EyePoint Pharmaceuticals by 26.5% during the first quarter. Janney Montgomery Scott LLC now owns 18,040 shares of the company’s stock worth $373,000 after acquiring an additional 3,780 shares in the last quarter. Finally, American International Group Inc. raised its holdings in shares of EyePoint Pharmaceuticals by 38.4% in the 1st quarter. American International Group Inc. now owns 18,378 shares of the company’s stock worth $380,000 after acquiring an additional 5,101 shares during the last quarter. 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.