Eyepoint Pharmaceuticals (NASDAQ:EYPT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, Zacks.com reports. The brokerage presently has a $1.50 price objective on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 2.74% from the company’s current price.
According to Zacks, “EyePoint Pharmaceuticals Inc. operates as a biopharmaceutical company. It engaged in the development of drug devices to treat debilitating diseases of the eye disorders and other chronic conditions. The company’s product candidate consists of DEXYCU(TM). EyePoint Pharmaceuticals Inc., formerly known as pSivida Corp., is headquartered in Watertown, MA. “
Separately, HC Wainwright set a $5.00 price objective on Eyepoint Pharmaceuticals and gave the company a “buy” rating in a report on Friday, July 12th.
Shares of NASDAQ:EYPT traded up $0.16 during trading on Tuesday, hitting $1.46. 360,137 shares of the company were exchanged, compared to its average volume of 403,386. The stock has a 50 day simple moving average of $1.48. The firm has a market cap of $154.92 million, a P/E ratio of -2.52 and a beta of 1.76. The company has a quick ratio of 1.93, a current ratio of 1.96 and a debt-to-equity ratio of 1.77. Eyepoint Pharmaceuticals has a 1-year low of $1.19 and a 1-year high of $3.94.
Eyepoint Pharmaceuticals (NASDAQ:EYPT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $7.21 million during the quarter, compared to the consensus estimate of $6.75 million. Eyepoint Pharmaceuticals had a negative net margin of 621.04% and a negative return on equity of 156.15%. On average, equities research analysts expect that Eyepoint Pharmaceuticals will post -0.4 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp increased its holdings in Eyepoint Pharmaceuticals by 10.8% in the fourth quarter. Northern Trust Corp now owns 113,544 shares of the company’s stock valued at $215,000 after purchasing an additional 11,064 shares during the period. Strs Ohio acquired a new stake in Eyepoint Pharmaceuticals in the second quarter valued at $27,000. JPMorgan Chase & Co. acquired a new stake in Eyepoint Pharmaceuticals in the second quarter valued at $28,000. Bank of New York Mellon Corp increased its holdings in Eyepoint Pharmaceuticals by 78.5% in the fourth quarter. Bank of New York Mellon Corp now owns 51,501 shares of the company’s stock valued at $97,000 after purchasing an additional 22,645 shares during the period. Finally, Arcus Capital Partners LLC acquired a new stake in Eyepoint Pharmaceuticals in the first quarter valued at $45,000. Institutional investors and hedge funds own 57.73% of the company’s stock.
About Eyepoint Pharmaceuticals
EyePoint Pharmaceuticals, Inc, a specialty biopharmaceutical company, develops and commercializes ophthalmic products for the treatment of eye diseases in the United States and Europe. It provides ILUVIEN for the treatment of diabetic macular edema; YUTIQ, a non-erodible fluocinolone acetonide insert for the treatment of non-infectious posterior uveitis (NIPU) that is in the Phase III clinical trials; and Retisert (fluocinolone acetonide intravitreal implant), a sustained-release implant for the treatment of posterior segment uveitis.
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