Eyepoint Pharmaceuticals (NASDAQ:EYPT) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research lowered shares of Eyepoint Pharmaceuticals (NASDAQ:EYPT) from a buy rating to a hold rating in a research report report published on Wednesday 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. “

EYPT has been the subject of a number of other research reports. ValuEngine cut Eyepoint Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, October 1st. HC Wainwright raised Eyepoint Pharmaceuticals from a neutral rating to a buy rating and set a $2.00 price objective for the company in a research report on Friday, October 9th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $2.13.

Shares of NASDAQ EYPT opened at $0.48 on Wednesday. The company has a current ratio of 4.16, a quick ratio of 3.76 and a debt-to-equity ratio of 12.00. The stock has a market capitalization of $60.12 million, a PE ratio of -1.04 and a beta of 1.12. The stock’s fifty day simple moving average is $0.53 and its two-hundred day simple moving average is $0.73. Eyepoint Pharmaceuticals has a 12-month low of $0.46 and a 12-month high of $2.69.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its earnings results on Wednesday, August 5th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $4.12 million for the quarter, compared to analysts’ expectations of $2.81 million. Eyepoint Pharmaceuticals had a negative return on equity of 452.45% and a negative net margin of 229.34%. On average, equities analysts predict that Eyepoint Pharmaceuticals will post -0.33 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Principal Financial Group Inc. acquired a new stake in shares of Eyepoint Pharmaceuticals in the 2nd quarter worth $26,000. Endurance Wealth Management Inc. lifted its position in Eyepoint Pharmaceuticals by 100.0% during the 2nd quarter. Endurance Wealth Management Inc. now owns 40,000 shares of the company’s stock worth $30,000 after acquiring an additional 20,000 shares during the period. Two Sigma Investments LP acquired a new stake in Eyepoint Pharmaceuticals during the 1st quarter worth about $42,000. UBS Group AG lifted its position in Eyepoint Pharmaceuticals by 208.9% during the 2nd quarter. UBS Group AG now owns 106,375 shares of the company’s stock worth $81,000 after acquiring an additional 71,943 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Eyepoint Pharmaceuticals by 302.5% during the 1st quarter. JPMorgan Chase & Co. now owns 82,049 shares of the company’s stock worth $84,000 after acquiring an additional 61,665 shares during the period. 48.67% of the stock is owned by hedge funds and other 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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