Eyepoint Pharmaceuticals (NASDAQ:EYPT) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Eyepoint Pharmaceuticals (NASDAQ:EYPT) from a buy rating to a hold rating in a research note issued to investors 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. “

Other equities analysts have also recently issued research reports about the company. ValuEngine cut Eyepoint Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, October 1st. HC Wainwright upgraded Eyepoint Pharmaceuticals from a neutral rating to a buy rating and set a $2.00 price target for the company in a report on Friday, October 9th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and an average target price of $2.13.

Shares of NASDAQ:EYPT opened at $0.46 on Wednesday. The company has a debt-to-equity ratio of 12.00, a quick ratio of 3.76 and a current ratio of 4.16. Eyepoint Pharmaceuticals has a 1 year low of $0.46 and a 1 year high of $2.53. The stock has a market capitalization of $61.34 million, a P/E ratio of -1.00 and a beta of 1.12. The stock has a 50-day simple moving average of $0.52 and a 200-day simple moving average of $0.72.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.10) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.01. The firm had revenue of $4.12 million during 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%. Analysts predict that Eyepoint Pharmaceuticals will post -0.33 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. acquired a new position in shares of Eyepoint Pharmaceuticals in the 2nd quarter valued at approximately $26,000. Endurance Wealth Management Inc. raised its position in shares of Eyepoint Pharmaceuticals by 100.0% in the 2nd quarter. Endurance Wealth Management Inc. now owns 40,000 shares of the company’s stock valued at $30,000 after purchasing an additional 20,000 shares in the last quarter. Two Sigma Investments LP acquired a new position in shares of Eyepoint Pharmaceuticals in the 1st quarter valued at approximately $42,000. Wedbush Securities Inc. acquired a new position in shares of Eyepoint Pharmaceuticals in the 3rd quarter valued at approximately $42,000. Finally, JPMorgan Chase & Co. raised its position in shares of Eyepoint Pharmaceuticals by 302.5% in the 1st quarter. JPMorgan Chase & Co. now owns 82,049 shares of the company’s stock valued at $84,000 after purchasing an additional 61,665 shares in the last quarter. 48.67% of the stock is currently owned by 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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