Zacks Investment Research Downgrades EyePoint Pharmaceuticals (NASDAQ:EYPT) to Hold

EyePoint Pharmaceuticals (NASDAQ:EYPTGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, 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. “

Several other analysts also recently issued reports on EYPT. StockNews.com assumed coverage on shares of EyePoint Pharmaceuticals in a report on Thursday, March 31st. They issued a “hold” rating on the stock. HC Wainwright reissued a “buy” rating and set a $24.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Friday, March 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Friday, March 4th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, EyePoint Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $23.67.

EYPT stock traded down $0.19 during trading on Thursday, reaching $9.04. 83,787 shares of the company were exchanged, compared to its average volume of 194,398. EyePoint Pharmaceuticals has a 52-week low of $7.30 and a 52-week high of $21.50. The company has a market cap of $307.78 million, a P/E ratio of -4.35 and a beta of 1.16. The company has a debt-to-equity ratio of 0.17, a quick ratio of 6.77 and a current ratio of 6.87. The stock’s 50 day moving average price is $11.46 and its 200 day moving average price is $12.04.

EyePoint Pharmaceuticals (NASDAQ:EYPTGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.02). EyePoint Pharmaceuticals had a negative net margin of 174.09% and a negative return on equity of 47.60%. The business had revenue of $9.29 million during the quarter, compared to analysts’ expectations of $10.35 million. During the same period last year, the company earned ($0.50) EPS. As a group, equities research analysts forecast that EyePoint Pharmaceuticals will post -2.41 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in EYPT. RA Capital Management L.P. boosted its stake in shares of EyePoint Pharmaceuticals by 76.8% in the third quarter. RA Capital Management L.P. now owns 2,210,506 shares of the company’s stock valued at $23,033,000 after purchasing an additional 960,506 shares during the period. Suvretta Capital Management LLC boosted its stake in EyePoint Pharmaceuticals by 47.8% during the 4th quarter. Suvretta Capital Management LLC now owns 2,519,700 shares of the company’s stock valued at $30,841,000 after acquiring an additional 815,111 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in EyePoint Pharmaceuticals by 1,491.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 622,018 shares of the company’s stock valued at $7,614,000 after acquiring an additional 582,925 shares during the last quarter. Franklin Resources Inc. boosted its stake in EyePoint Pharmaceuticals by 13.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,174,337 shares of the company’s stock valued at $33,076,000 after acquiring an additional 377,664 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in EyePoint Pharmaceuticals by 21.0% during the 4th quarter. BlackRock Inc. now owns 1,440,631 shares of the company’s stock valued at $17,633,000 after acquiring an additional 249,998 shares during the last quarter. 87.67% of the stock is owned by institutional investors.

About EyePoint Pharmaceuticals (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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