EyePoint Pharmaceuticals (NASDAQ:EYPT) Upgraded at StockNews.com

StockNews.com upgraded shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) to a sell rating in a research note published on Friday.

Several other equities research analysts have also recently weighed in on EYPT. HC Wainwright reiterated a “buy” rating and issued a $22.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, March 6th. Chardan Capital restated a “buy” rating and set a $33.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, March 6th. Finally, Citigroup started coverage on EyePoint Pharmaceuticals in a research note on Tuesday, January 7th. They set a “buy” rating and a $33.00 price objective for the company. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, EyePoint Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $26.63.

EyePoint Pharmaceuticals Trading Down 4.5 %

Shares of EYPT stock opened at $6.52 on Friday. EyePoint Pharmaceuticals has a twelve month low of $5.54 and a twelve month high of $23.97. The stock has a market capitalization of $448.11 million, a price-to-earnings ratio of -3.26 and a beta of 1.41. The stock has a fifty day simple moving average of $7.19 and a two-hundred day simple moving average of $8.38.

EyePoint Pharmaceuticals (NASDAQ:EYPT) last issued its earnings results on Wednesday, March 5th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.10). EyePoint Pharmaceuticals had a negative return on equity of 43.01% and a negative net margin of 226.57%. The firm had revenue of $11.60 million during the quarter, compared to analysts’ expectations of $11.02 million. Research analysts predict that EyePoint Pharmaceuticals will post -2.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in EYPT. RA Capital Management L.P. acquired a new position in EyePoint Pharmaceuticals during the 4th quarter valued at about $23,705,000. TCG Crossover Management LLC increased its position in EyePoint Pharmaceuticals by 287.3% during the 4th quarter. TCG Crossover Management LLC now owns 3,572,335 shares of the company’s stock valued at $26,614,000 after buying an additional 2,650,000 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its position in EyePoint Pharmaceuticals by 51.7% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,750,000 shares of the company’s stock valued at $42,838,000 after buying an additional 1,958,580 shares in the last quarter. Federated Hermes Inc. increased its position in EyePoint Pharmaceuticals by 92.7% during the 4th quarter. Federated Hermes Inc. now owns 3,707,445 shares of the company’s stock valued at $27,620,000 after buying an additional 1,783,765 shares in the last quarter. Finally, Suvretta Capital Management LLC increased its position in EyePoint Pharmaceuticals by 31.1% during the 4th quarter. Suvretta Capital Management LLC now owns 6,783,091 shares of the company’s stock valued at $50,534,000 after buying an additional 1,607,268 shares in the last quarter. 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.