Eyepoint Pharmaceuticals (NASDAQ:EYPT) Upgraded at TD Cowen

TD Cowen upgraded shares of Eyepoint Pharmaceuticals (NASDAQ:EYPT) to a strong-buy rating in a report issued on Friday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the stock. Cantor Fitzgerald raised shares of Eyepoint Pharmaceuticals to a “strong-buy” rating in a research note on Tuesday, November 25th. Mizuho set a $28.00 price target on shares of Eyepoint Pharmaceuticals in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eyepoint Pharmaceuticals in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada raised their price objective on Eyepoint Pharmaceuticals from $28.00 to $39.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $30.00.

Eyepoint Pharmaceuticals Stock Performance

EYPT opened at $17.43 on Friday. The company has a market capitalization of $1.44 billion, a PE ratio of -5.83 and a beta of 1.67. The stock’s fifty day moving average is $13.70 and its 200-day moving average is $12.08. Eyepoint Pharmaceuticals has a one year low of $3.91 and a one year high of $19.11.

Eyepoint Pharmaceuticals (NASDAQ:EYPT) last released its earnings results on Wednesday, November 5th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.08). Eyepoint Pharmaceuticals had a negative return on equity of 76.13% and a negative net margin of 485.95%.The firm had revenue of $0.97 million for the quarter, compared to analyst estimates of $3.33 million. On average, equities research analysts forecast that Eyepoint Pharmaceuticals will post -2.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Eyepoint Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake in Eyepoint Pharmaceuticals by 1,636.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,900 shares of the company’s stock valued at $27,000 after purchasing an additional 2,733 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Eyepoint Pharmaceuticals during the third quarter valued at $50,000. Russell Investments Group Ltd. purchased a new stake in Eyepoint Pharmaceuticals in the 3rd quarter worth about $76,000. Tower Research Capital LLC TRC lifted its stake in Eyepoint Pharmaceuticals by 218.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,700 shares of the company’s stock worth $82,000 after acquiring an additional 5,967 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Eyepoint Pharmaceuticals during the 2nd quarter worth about $100,000. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

Eyepoint Pharmaceuticals Company Profile

Eyepoint Pharmaceuticals, Inc is a biopharmaceutical company focused on the development and commercialization of therapies for the treatment of ocular diseases. The company’s proprietary platform centers on sustained-release formulations designed to improve drug delivery to the posterior segment of the eye, addressing conditions that often require repeated intravitreal injections or intensive topical regimens. Eyepoint’s commercial strategy combines in-house sales and marketing capabilities with targeted partnerships to bring its therapies to ophthalmologists and retina specialists across the United States.

Eyepoint’s lead products include YUTIQ, a fluocinolone acetonide intravitreal implant indicated for the prevention of relapse in non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU, a dexamethasone intraocular suspension approved for postoperative inflammation following ocular surgery.