TD Cowen Upgrades Eyepoint Pharmaceuticals (NASDAQ:EYPT) to “Strong-Buy”

Eyepoint Pharmaceuticals (NASDAQ:EYPT) was upgraded by equities researchers at TD Cowen to a “strong-buy” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

A number of other equities analysts have also commented on the stock. Cantor Fitzgerald raised shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, November 25th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a research report on Wednesday, October 8th. Mizuho set a $28.00 price target on Eyepoint Pharmaceuticals in a report on Monday, October 20th. Finally, Royal Bank Of Canada increased their price objective on Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $30.00.

Eyepoint Pharmaceuticals Stock Up 2.2%

Shares of Eyepoint Pharmaceuticals stock opened at $17.43 on Friday. Eyepoint Pharmaceuticals has a 12-month low of $3.91 and a 12-month high of $19.11. The firm has a market capitalization of $1.44 billion, a PE ratio of -5.83 and a beta of 1.67. The stock’s fifty day moving average is $13.70 and its 200-day moving average is $12.05.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last issued its quarterly earnings results on Wednesday, November 5th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.08). Eyepoint Pharmaceuticals had a negative return on equity of 76.13% and a negative net margin of 485.95%.The company had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $3.33 million. Analysts expect that Eyepoint Pharmaceuticals will post -2.13 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of EYPT. Vanguard Group Inc. lifted its holdings in shares of Eyepoint Pharmaceuticals by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 3,834,368 shares of the company’s stock valued at $20,782,000 after buying an additional 31,141 shares during the last quarter. Swiss National Bank raised its position in Eyepoint Pharmaceuticals by 12.4% during the first quarter. Swiss National Bank now owns 112,400 shares of the company’s stock valued at $609,000 after acquiring an additional 12,400 shares in the last quarter. Invesco Ltd. lifted its stake in Eyepoint Pharmaceuticals by 174.3% in the first quarter. Invesco Ltd. now owns 42,948 shares of the company’s stock valued at $233,000 after acquiring an additional 27,291 shares during the last quarter. Nuveen LLC bought a new stake in Eyepoint Pharmaceuticals in the first quarter worth approximately $1,056,000. Finally, American Century Companies Inc. acquired a new position in shares of Eyepoint Pharmaceuticals during the 1st quarter worth $232,000. 99.41% of the stock is owned by institutional investors and hedge funds.

Eyepoint Pharmaceuticals Company Profile

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.