Guggenheim cut shares of Eyepoint Pharmaceuticals (NASDAQ:EYPT – Free Report) from a buy rating to a neutral rating in a research report released on Monday morning, Marketbeat Ratings reports.
EYPT has been the subject of several other research reports. HC Wainwright reiterated a “neutral” rating on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, August 18th. TD Cowen cut shares of Eyepoint Pharmaceuticals from a “buy” rating to a “hold” rating and cut their target price for the stock from $20.00 to $4.00 in a report on Wednesday, September 2nd. Weiss Ratings upgraded shares of Eyepoint Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Eyepoint Pharmaceuticals in a research note on Monday, August 17th. Finally, Wall Street Zen upgraded shares of Eyepoint Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Sunday, September 27th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $21.85.
Get Our Latest Stock Report on Eyepoint Pharmaceuticals
Eyepoint Pharmaceuticals Trading Up 6.1%
NASDAQ EYPT opened at $0.43 on Monday. Eyepoint Pharmaceuticals has a 1-year low of $0.39 and a 1-year high of $19.11. The stock has a 50-day moving average of $4.25 and a 200-day moving average of $10.12. The firm has a market cap of $37.07 million, a PE ratio of -0.11 and a beta of 1.67.
Eyepoint Pharmaceuticals (NASDAQ:EYPT – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($1.01) by ($0.08). Eyepoint Pharmaceuticals had a negative net margin of 10,994.73% and a negative return on equity of 135.81%. The company had revenue of $0.51 million for the quarter, compared to analysts’ expectations of $0.45 million. As a group, equities research analysts forecast that Eyepoint Pharmaceuticals will post -3.51 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Eyepoint Pharmaceuticals
Several institutional investors and hedge funds have recently modified their holdings of EYPT. Janus Henderson Group PLC boosted its stake in shares of Eyepoint Pharmaceuticals by 22.6% during the 1st quarter. Janus Henderson Group PLC now owns 3,601,168 shares of the company’s stock valued at $46,419,000 after purchasing an additional 663,439 shares in the last quarter. Commodore Capital LP bought a new position in Eyepoint Pharmaceuticals in the first quarter worth about $36,414,000. Hsbc Holdings PLC bought a new position in Eyepoint Pharmaceuticals in the first quarter worth about $10,743,000. Stempoint Capital LP lifted its holdings in Eyepoint Pharmaceuticals by 129.1% in the first quarter. Stempoint Capital LP now owns 810,764 shares of the company’s stock worth $10,451,000 after buying an additional 456,915 shares during the period. Finally, Principia Wealth Advisory LLC lifted its holdings in Eyepoint Pharmaceuticals by 2.6% in the second quarter. Principia Wealth Advisory LLC now owns 649,944 shares of the company’s stock worth $9,294,000 after buying an additional 16,180 shares during the period. 99.41% of the stock is owned by hedge funds and other institutional investors.
More Eyepoint Pharmaceuticals News
Here are the key news stories impacting Eyepoint Pharmaceuticals this week:
- Positive Sentiment: Traders purchased a large volume of EYPT call options, signaling increased speculative interest and expectations that the stock could rebound or move sharply higher. Stock Traders Purchase Large Volume of Call Options on Eyepoint Pharmaceuticals
- Positive Sentiment: RBC identified the company’s upcoming diabetic macular edema (DME) study readout as a potential catalyst. Positive data could help offset the recent failure of an EyePoint wet age-related macular degeneration (wAMD) trial to meet its endpoint. EyePoint’s DME Study Readout a Catalyst After wAMD Trial Misses Endpoint
- Neutral Sentiment: Analyst sentiment remains mixed across EyePoint and other healthcare companies, reflecting uncertainty over the company’s clinical pipeline and future catalysts. Analysts Have Conflicting Sentiments on These Healthcare Companies
- Neutral Sentiment: Laidlaw reaffirmed its “hold” rating. RBC also maintained a “sector perform” view while cutting its price target to $1.00, and Mizuho reaffirmed “neutral” with a $0.50 target. These targets remain above the recent share price but indicate limited conviction.
- Negative Sentiment: Jefferies Financial Group lowered its rating on EyePoint, adding to pressure from a more cautious analyst outlook. Eyepoint Pharmaceuticals Stock Rating Lowered by Jefferies
- Negative Sentiment: Guggenheim also downgraded the stock, reinforcing concerns after the wAMD trial miss and highlighting the high-risk nature of EyePoint’s development program. Eyepoint Pharmaceuticals Stock Gets Downgrade from Guggenheim
Eyepoint Pharmaceuticals Company Profile
EyePoint Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing therapies for serious eye diseases. The company specializes in sustained-release drug delivery technologies designed to provide extended treatment in the eye and potentially reduce the frequency of injections or other interventions.
EyePoint’s commercial products include YUTIQ, an intravitreal implant that delivers fluocinolone acetonide for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, an intraocular suspension of dexamethasone used to treat postoperative inflammation following ocular surgery.
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