EyePoint Pharmaceuticals (NASDAQ:EYPT) Downgraded by StockNews.com

EyePoint Pharmaceuticals (NASDAQ:EYPT) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Several other equities research analysts have also commented on EYPT. Mizuho lowered their price objective on EyePoint Pharmaceuticals from $39.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. assumed coverage on EyePoint Pharmaceuticals in a research report on Monday, January 22nd. They issued an “overweight” rating and a $35.00 price objective on the stock. HC Wainwright lowered their price objective on EyePoint Pharmaceuticals from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Tuesday, January 16th. Capital One Financial reiterated an “overweight” rating on shares of EyePoint Pharmaceuticals in a research report on Friday, February 16th. Finally, Chardan Capital decreased their target price on EyePoint Pharmaceuticals from $39.00 to $28.00 and set a “buy” rating on the stock in a research report on Tuesday. One research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. Based on data from MarketBeat, EyePoint Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $34.14.

EyePoint Pharmaceuticals Stock Performance

NASDAQ EYPT traded up $1.11 during trading hours on Thursday, reaching $12.67. The stock had a trading volume of 2,109,945 shares, compared to its average volume of 1,137,237. The stock has a fifty day moving average of $20.34 and a 200 day moving average of $19.10. The stock has a market cap of $659.90 million, a P/E ratio of -6.92 and a beta of 1.70. EyePoint Pharmaceuticals has a 52-week low of $5.67 and a 52-week high of $30.99.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Thursday, March 7th. The company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.27. EyePoint Pharmaceuticals had a negative return on equity of 61.48% and a negative net margin of 153.84%. The firm had revenue of $14.03 million for the quarter, compared to analyst estimates of $8.71 million. During the same quarter in the prior year, the firm earned ($0.61) earnings per share. On average, equities research analysts forecast that EyePoint Pharmaceuticals will post -1.73 EPS for the current year.

Insider Activity at EyePoint Pharmaceuticals

In other news, major shareholder Cormorant Asset Management, Lp acquired 850,000 shares of EyePoint Pharmaceuticals stock in a transaction that occurred on Monday, May 6th. The stock was purchased at an average cost of $11.86 per share, with a total value of $10,081,000.00. Following the purchase, the insider now owns 8,325,000 shares in the company, valued at $98,734,500. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 13.05% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its position in shares of EyePoint Pharmaceuticals by 194.0% during the 4th quarter. Federated Hermes Inc. now owns 674,824 shares of the company’s stock worth $15,595,000 after purchasing an additional 445,289 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter worth about $24,641,000. Barclays PLC increased its position in shares of EyePoint Pharmaceuticals by 103.4% during the 3rd quarter. Barclays PLC now owns 45,659 shares of the company’s stock worth $365,000 after purchasing an additional 23,208 shares during the last quarter. TD Asset Management Inc acquired a new stake in shares of EyePoint Pharmaceuticals during the 3rd quarter worth about $574,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter worth about $820,000. 99.41% of the stock is owned by institutional investors and hedge funds.

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.