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

EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) was upgraded by analysts at StockNews.com to a "sell" rating in a research note issued on Friday.

Several other research firms have also recently weighed in on EYPT. HC Wainwright reiterated a "buy" rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Thursday, March 6th. Chardan Capital reissued a "buy" rating and issued a $33.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, March 6th. Finally, Citigroup started coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They set a "buy" rating and a $33.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, EyePoint Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $26.63.

EyePoint Pharmaceuticals Stock Up 1.7 %

Shares of EYPT stock traded up $0.11 during trading on Friday, reaching $6.63. 580,084 shares of the company's stock were exchanged, compared to its average volume of 867,533. The firm's fifty day moving average price is $7.19 and its 200-day moving average price is $8.38. 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 $455.67 million, a PE ratio of -3.32 and a beta of 1.41.

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EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) last released its quarterly 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 net margin of 226.57% and a negative return on equity of 43.01%. The company had revenue of $11.60 million during the quarter, compared to the consensus estimate of $11.02 million. As a group, analysts anticipate that EyePoint Pharmaceuticals will post -2.13 EPS for the current fiscal year.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the stock. Suvretta Capital Management LLC raised its holdings 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 worth $50,534,000 after purchasing an additional 1,607,268 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in EyePoint Pharmaceuticals by 51.7% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,750,000 shares of the company's stock worth $42,838,000 after buying an additional 1,958,580 shares during the last quarter. Franklin Resources Inc. lifted its holdings in EyePoint Pharmaceuticals by 3.1% in the fourth quarter. Franklin Resources Inc. now owns 4,137,567 shares of the company's stock valued at $30,825,000 after buying an additional 125,519 shares during the period. Vanguard Group Inc. boosted its position in EyePoint Pharmaceuticals by 24.8% during the fourth quarter. Vanguard Group Inc. now owns 3,803,227 shares of the company's stock valued at $28,334,000 after acquiring an additional 755,045 shares during the last quarter. Finally, Federated Hermes Inc. grew its holdings in EyePoint Pharmaceuticals by 92.7% during the 4th quarter. Federated Hermes Inc. now owns 3,707,445 shares of the company's stock worth $27,620,000 after acquiring an additional 1,783,765 shares during the period. 99.41% of the stock is currently owned by institutional investors.

EyePoint Pharmaceuticals Company Profile

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.