Eyepoint Pharmaceuticals (NASDAQ:EYPT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

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. “

A number of other equities research analysts have also weighed in on the company. HC Wainwright set a $3.00 price objective on Eyepoint Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, August 2nd. ValuEngine upgraded Eyepoint Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, May 29th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $4.90.

Shares of NASDAQ EYPT opened at $1.99 on Thursday. Eyepoint Pharmaceuticals has a fifty-two week low of $0.93 and a fifty-two week high of $2.88. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.57. The company has a market cap of $118.87 million, a price-to-earnings ratio of -3.83 and a beta of 1.01.

Several institutional investors and hedge funds have recently modified their holdings of EYPT. FineMark National Bank & Trust acquired a new position in shares of Eyepoint Pharmaceuticals in the 2nd quarter worth approximately $118,000. California Public Employees Retirement System acquired a new position in shares of Eyepoint Pharmaceuticals in the 2nd quarter worth approximately $135,000. Creative Planning acquired a new position in shares of Eyepoint Pharmaceuticals in the 2nd quarter worth approximately $162,000. Essex Investment Management Co. LLC acquired a new position in shares of Eyepoint Pharmaceuticals in the 2nd quarter worth approximately $170,000. Finally, Bard Associates Inc. acquired a new position in shares of Eyepoint Pharmaceuticals in the 2nd quarter worth approximately $189,000. Institutional investors own 24.23% of the company’s stock.

About Eyepoint Pharmaceuticals

EyePoint Pharmaceuticals, Inc, a specialty biopharmaceutical company, engages in developing and commercializing ophthalmic products in indications with high unmet medical need to help improve the lives of patients with eye disorders. The company has developed three FDA-approved sustained-release treatments in ophthalmology, including DEXYCU (dexamethasone intraocular suspension), which is administered as a single intraocular dose at the end of ocular surgery for postoperative inflammation; ILUVIEN (fluocinolone acetonide intravitreal implant), a micro-insert for diabetic macular edema; and Retisert (fluocinolone acetonide intravitreal implant) for posterior uveitis.

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