EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives Average Rating of “Buy” from Analysts

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have been given an average rating of “Buy” by the nine research firms that are covering the firm, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $28.00.

A number of research firms recently commented on EYPT. Chardan Capital lifted their price target on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 8th. HC Wainwright reduced their target price on EyePoint Pharmaceuticals from $30.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Jefferies Financial Group began coverage on EyePoint Pharmaceuticals in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target on the stock. Robert W. Baird reduced their price objective on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Finally, Scotiabank began coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price objective on the stock.

EyePoint Pharmaceuticals Stock Up 7.2 %

EYPT stock opened at $8.95 on Friday. The company has a market cap of $610.84 million, a price-to-earnings ratio of -4.48 and a beta of 1.50. EyePoint Pharmaceuticals has a twelve month low of $5.86 and a twelve month high of $30.99. The business has a 50 day moving average price of $9.77 and a two-hundred day moving average price of $9.57.

Institutional Trading of EyePoint Pharmaceuticals

Several large investors have recently bought and sold shares of the business. ProShare Advisors LLC bought a new stake in shares of EyePoint Pharmaceuticals during the first quarter worth about $209,000. Vanguard Group Inc. increased its position in EyePoint Pharmaceuticals by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock valued at $49,530,000 after acquiring an additional 362,168 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of EyePoint Pharmaceuticals by 44.0% during the first quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock valued at $77,000 after acquiring an additional 1,136 shares during the last quarter. American International Group Inc. lifted its holdings in shares of EyePoint Pharmaceuticals by 38.4% during the first quarter. American International Group Inc. now owns 18,378 shares of the company’s stock worth $380,000 after purchasing an additional 5,101 shares during the period. Finally, Janus Henderson Group PLC bought a new stake in shares of EyePoint Pharmaceuticals in the first quarter worth $555,000. 99.41% of the stock is owned by institutional investors and hedge funds.

About EyePoint Pharmaceuticals

EyePoint Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing therapeutics to improve the lives of patients with serious retinal diseases. The company's pipeline leverages its proprietary bioerodible Durasert E technology for sustained intraocular drug delivery.