EyePoint Pharmaceuticals (NASDAQ:EYPT) Raised to “Sell” at StockNews.com

EyePoint Pharmaceuticals (NASDAQ:EYPT) was upgraded by investment analysts at StockNews.com to a “sell” rating in a research note issued on Thursday.

Several other equities analysts also recently weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of EyePoint Pharmaceuticals in a report on Thursday, June 20th. HC Wainwright reissued a “buy” rating and set a $30.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, June 27th. JPMorgan Chase & Co. reduced their target price on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Chardan Capital reiterated a “buy” rating and set a $28.00 target price on shares of EyePoint Pharmaceuticals in a report on Friday, June 28th. Finally, Robert W. Baird cut their price target on EyePoint Pharmaceuticals from $46.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.63.

EyePoint Pharmaceuticals Price Performance

Shares of NASDAQ:EYPT opened at $8.36 on Thursday. The firm has a market capitalization of $447.43 million, a price-to-earnings ratio of -4.59 and a beta of 1.59. The business’s 50 day simple moving average is $8.90 and its 200-day simple moving average is $14.38. EyePoint Pharmaceuticals has a 12 month low of $5.67 and a 12 month high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last posted its earnings results on Wednesday, August 7th. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.55) by ($0.03). EyePoint Pharmaceuticals had a negative return on equity of 43.24% and a negative net margin of 172.29%. The firm had revenue of $9.48 million for the quarter, compared to analysts’ expectations of $11.61 million. On average, equities analysts anticipate that EyePoint Pharmaceuticals will post -2.33 earnings per share for the current year.

Insider Activity

In other news, Director David R. Guyer sold 11,625 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $10.06, for a total transaction of $116,947.50. Following the completion of the sale, the director now directly owns 1,850 shares of the company’s stock, valued at approximately $18,611. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.74% of the company’s stock.

Institutional Trading of EyePoint Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. increased its position in shares of EyePoint Pharmaceuticals by 44.0% in the first quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock worth $77,000 after acquiring an additional 1,136 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of EyePoint Pharmaceuticals by 9.7% during the second quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock worth $115,000 after purchasing an additional 1,171 shares in the last quarter. Essex Investment Management Co. LLC lifted its stake in shares of EyePoint Pharmaceuticals by 1.5% during the first quarter. Essex Investment Management Co. LLC now owns 149,819 shares of the company’s stock worth $3,097,000 after purchasing an additional 2,278 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of EyePoint Pharmaceuticals by 26.5% in the first quarter. Janney Montgomery Scott LLC now owns 18,040 shares of the company’s stock worth $373,000 after buying an additional 3,780 shares during the period. Finally, American International Group Inc. grew its stake in shares of EyePoint Pharmaceuticals by 38.4% in the first quarter. American International Group Inc. now owns 18,378 shares of the company’s stock valued at $380,000 after buying an additional 5,101 shares in the last quarter. Institutional investors and hedge funds own 99.41% of the company’s stock.

About EyePoint Pharmaceuticals

EyePoint Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing therapeutics to improve the lives of patients with serious retinal diseases. The company's pipeline leverages its proprietary bioerodible Durasert E technology for sustained intraocular drug delivery.