Eyepoint Pharmaceuticals (EYPT) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Eyepoint Pharmaceuticals (NASDAQ:EYPT) from a sell rating to a hold rating in a research note published on Tuesday 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. “

Several other research firms have also recently commented on EYPT. ValuEngine cut shares of Eyepoint Pharmaceuticals from a buy rating to a hold rating in a report on Monday, February 4th. HC Wainwright restated a buy rating and set a $4.50 price target on shares of Eyepoint Pharmaceuticals in a report on Thursday, May 9th.

Eyepoint Pharmaceuticals stock opened at $1.85 on Tuesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 2.57 and a current ratio of 1.96. Eyepoint Pharmaceuticals has a 12 month low of $1.24 and a 12 month high of $3.94. The firm has a market cap of $192.05 million, a PE ratio of -3.19 and a beta of 1.89.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.03). Eyepoint Pharmaceuticals had a negative net margin of 1,739.81% and a negative return on equity of 195.83%. The company had revenue of $2.01 million for the quarter, compared to analysts’ expectations of $3.70 million. As a group, equities analysts expect that Eyepoint Pharmaceuticals will post -0.4 earnings per share for the current fiscal year.

In other Eyepoint Pharmaceuticals news, Director Douglas Evan Godshall acquired 17,000 shares of Eyepoint Pharmaceuticals stock in a transaction that occurred on Friday, March 29th. The stock was acquired at an average price of $1.75 per share, with a total value of $29,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John B. Landis acquired 40,000 shares of Eyepoint Pharmaceuticals stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average cost of $1.74 per share, with a total value of $69,600.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 90,500 shares of company stock worth $158,960. 18.91% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. HighTower Advisors LLC lifted its stake in shares of Eyepoint Pharmaceuticals by 0.5% in the 1st quarter. HighTower Advisors LLC now owns 5,284,838 shares of the company’s stock valued at $9,460,000 after purchasing an additional 24,750 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Eyepoint Pharmaceuticals by 2.7% in the 3rd quarter. Vanguard Group Inc now owns 1,798,708 shares of the company’s stock valued at $6,422,000 after purchasing an additional 47,361 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Eyepoint Pharmaceuticals by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,798,708 shares of the company’s stock valued at $6,422,000 after purchasing an additional 47,361 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Eyepoint Pharmaceuticals by 712.5% in the 4th quarter. BlackRock Inc. now owns 1,232,335 shares of the company’s stock valued at $2,329,000 after purchasing an additional 1,080,662 shares during the last quarter. Finally, Essex Investment Management Co. LLC lifted its stake in shares of Eyepoint Pharmaceuticals by 322.4% in the 4th quarter. Essex Investment Management Co. LLC now owns 568,141 shares of the company’s stock valued at $1,074,000 after purchasing an additional 433,632 shares during the last quarter. 51.93% of the stock is owned by institutional investors and hedge funds.

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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