EyePoint Pharmaceuticals (NASDAQ:EYPT) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of EyePoint Pharmaceuticals (NASDAQ:EYPTGet Rating) from a hold rating to a buy rating in a research report sent to investors on Monday morning, Zacks.com reports. Zacks Investment Research currently has $12.00 target price on the stock.

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. “

A number of other brokerages have also weighed in on EYPT. HC Wainwright restated a buy rating and issued a $24.00 price objective on shares of EyePoint Pharmaceuticals in a report on Friday, March 4th. StockNews.com assumed coverage on EyePoint Pharmaceuticals in a report on Thursday, March 31st. They issued a hold rating on the stock. Finally, Cantor Fitzgerald restated an overweight rating on shares of EyePoint Pharmaceuticals in a report on Friday, March 4th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Buy and a consensus price target of $23.67.

Shares of NASDAQ:EYPT opened at $9.56 on Monday. EyePoint Pharmaceuticals has a 1 year low of $7.30 and a 1 year high of $21.50. The firm has a market capitalization of $325.49 million, a price-to-earnings ratio of -4.60 and a beta of 1.16. The company has a debt-to-equity ratio of 0.20, a current ratio of 10.05 and a quick ratio of 9.90. The business’s 50 day moving average price is $12.22 and its 200-day moving average price is $12.31.

EyePoint Pharmaceuticals (NASDAQ:EYPTGet Rating) last announced its earnings results on Wednesday, May 4th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.06). EyePoint Pharmaceuticals had a negative net margin of 174.09% and a negative return on equity of 51.22%. During the same period in the previous year, the business posted ($0.50) EPS. On average, sell-side analysts expect that EyePoint Pharmaceuticals will post -2.53 earnings per share for the current year.

Several large investors have recently modified their holdings of EYPT. Morgan Stanley increased its position in shares of EyePoint Pharmaceuticals by 456.3% during the 2nd quarter. Morgan Stanley now owns 16,744 shares of the company’s stock worth $150,000 after purchasing an additional 13,734 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of EyePoint Pharmaceuticals during the 3rd quarter worth about $133,000. BlackRock Inc. increased its position in shares of EyePoint Pharmaceuticals by 5.4% during the 3rd quarter. BlackRock Inc. now owns 1,190,633 shares of the company’s stock worth $12,407,000 after purchasing an additional 60,889 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of EyePoint Pharmaceuticals during the 3rd quarter worth about $1,798,000. Finally, Citigroup Inc. increased its position in shares of EyePoint Pharmaceuticals by 139.6% during the 3rd quarter. Citigroup Inc. now owns 2,410 shares of the company’s stock worth $25,000 after purchasing an additional 1,404 shares during the last quarter. 87.67% of the stock is owned by hedge funds and other institutional investors.

EyePoint Pharmaceuticals Company Profile (Get Rating)

EyePoint Pharmaceuticals, Inc, a pharmaceutical company, develops and commercializes ophthalmic products for the treatment of eye diseases in the United States, China, and the United Kingdom. The company provides ILUVIEN, an injectable sustained-release micro-insert for treatment of diabetic macular edema; YUTIQ, a fluocinolone acetonide intravitreal implant for intravitreal injection for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye; and DEXYCU, a dexamethasone intraocular suspension, for the treatment of post-operative ocular inflammation, including treatment following cataract surgery.

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