Eyepoint Pharmaceuticals (NASDAQ:EYPT) Downgraded by Jefferies Financial Group to “Hold”

Eyepoint Pharmaceuticals (NASDAQ:EYPT) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Monday, Briefing.com reports. They currently have a $1.00 price target on the stock. Jefferies Financial Group’s target price suggests a potential upside of 111.86% from the stock’s current price.

EYPT has been the subject of a number of other reports. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Eyepoint Pharmaceuticals in a research report on Monday, August 17th. HC Wainwright restated a “neutral” rating on shares of Eyepoint Pharmaceuticals in a research report on Tuesday, August 18th. Stifel Nicolaus began coverage on shares of Eyepoint Pharmaceuticals in a research note on Thursday, July 16th. They set a “buy” rating and a $40.00 target price on the stock. Chardan Capital cut shares of Eyepoint Pharmaceuticals from a “buy” rating to a “neutral” rating and set a $5.00 target price on the stock. in a research note on Tuesday, August 18th. Finally, Cantor Fitzgerald downgraded shares of Eyepoint Pharmaceuticals from an “overweight” rating to a “neutral” rating in a report on Monday, August 17th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.00.

Eyepoint Pharmaceuticals Trading Down 84.2%

EYPT stock traded down $2.52 during mid-day trading on Monday, hitting $0.47. The stock had a trading volume of 82,622,550 shares, compared to its average volume of 2,423,693. The firm has a market capitalization of $40.69 million, a P/E ratio of -0.13 and a beta of 1.67. Eyepoint Pharmaceuticals has a 52 week low of $0.43 and a 52 week high of $19.11. The firm has a fifty day simple moving average of $5.02 and a 200 day simple moving average of $10.39.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($1.09) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $0.45 million. As a group, equities analysts expect that Eyepoint Pharmaceuticals will post -3.51 earnings per share for the current fiscal year.

Institutional Trading of Eyepoint Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in shares of Eyepoint Pharmaceuticals by 22.6% in the first quarter. Janus Henderson Group PLC now owns 3,601,168 shares of the company’s stock valued at $46,419,000 after buying an additional 663,439 shares during the period. Commodore Capital LP bought a new position in Eyepoint Pharmaceuticals in the 1st quarter valued at approximately $36,414,000. Hsbc Holdings PLC acquired a new stake in Eyepoint Pharmaceuticals during the 1st quarter worth approximately $10,743,000. Stempoint Capital LP boosted its position in Eyepoint Pharmaceuticals by 129.1% during the 1st 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 increased its position in Eyepoint Pharmaceuticals by 2.6% in the 2nd quarter. Principia Wealth Advisory LLC now owns 649,944 shares of the company’s stock valued at $9,294,000 after acquiring an additional 16,180 shares during the period. 99.41% of the stock is owned by institutional investors and hedge funds.

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.