Eyepoint Pharmaceuticals (NASDAQ:EYPT) Receives Neutral Rating from JPMorgan Chase & Co.

Eyepoint Pharmaceuticals (NASDAQ:EYPT)‘s stock had its “neutral” rating restated by equities researchers at JPMorgan Chase & Co. in a research note issued to investors on Monday,Benzinga reports.

EYPT has been the subject of several other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research note on Friday, July 17th. Chardan Capital restated a “buy” rating and issued a $65.00 price target on shares of Eyepoint Pharmaceuticals in a report on Monday. Cantor Fitzgerald lowered shares of Eyepoint Pharmaceuticals from an “overweight” rating to a “neutral” rating in a report on Monday. Stifel Nicolaus initiated coverage on shares of Eyepoint Pharmaceuticals in a report on Thursday, July 16th. They set a “buy” rating and a $40.00 price objective on the stock. Finally, Royal Bank Of Canada reduced their target price on Eyepoint Pharmaceuticals from $39.00 to $37.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $40.33.

Eyepoint Pharmaceuticals Stock Performance

Shares of NASDAQ:EYPT traded down $10.12 during midday trading on Monday, reaching $4.63. The company’s stock had a trading volume of 34,567,836 shares, compared to its average volume of 1,510,330. Eyepoint Pharmaceuticals has a fifty-two week low of $3.95 and a fifty-two week high of $19.11. The firm has a 50 day moving average price of $13.23 and a two-hundred day moving average price of $13.70. The firm has a market capitalization of $399.58 million, a price-to-earnings ratio of -1.22 and a beta of 1.76.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results on Wednesday, August 5th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($1.01) by ($0.08). The business had revenue of $0.51 million for the quarter, compared to analyst estimates of $0.45 million. Eyepoint Pharmaceuticals had a negative return on equity of 135.81% and a negative net margin of 10,994.73%. As a group, research analysts anticipate that Eyepoint Pharmaceuticals will post -3.6 earnings per share for the current year.

Institutional Trading of Eyepoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Suvretta Capital Management LLC lifted its stake in shares of Eyepoint Pharmaceuticals by 26.4% in the fourth quarter. Suvretta Capital Management LLC now owns 7,827,685 shares of the company’s stock valued at $143,012,000 after buying an additional 1,634,970 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in shares of Eyepoint Pharmaceuticals by 9.7% during the second quarter. Adage Capital Partners GP L.L.C. now owns 6,800,000 shares of the company’s stock worth $63,988,000 after acquiring an additional 600,000 shares in the last quarter. Federated Hermes Inc. raised its holdings in shares of Eyepoint Pharmaceuticals by 36.3% in the 4th quarter. Federated Hermes Inc. now owns 6,017,433 shares of the company’s stock worth $109,938,000 after acquiring an additional 1,601,101 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Eyepoint Pharmaceuticals by 19.3% in the 4th quarter. Franklin Resources Inc. now owns 4,976,915 shares of the company’s stock worth $90,928,000 after acquiring an additional 805,031 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Eyepoint Pharmaceuticals by 27.1% in the 4th quarter. Vanguard Group Inc. now owns 4,822,139 shares of the company’s stock valued at $88,100,000 after acquiring an additional 1,027,623 shares in the last quarter. Institutional investors own 99.41% of the company’s stock.

About Eyepoint Pharmaceuticals

Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company’s proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint’s commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.

Eyepoint’s lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.