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

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have earned an average rating of “Buy” from the ten analysts that are presently covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a buy rating. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $26.63.

Several equities analysts recently issued reports on EYPT shares. Robert W. Baird cut their target price on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. HC Wainwright restated a “buy” rating and issued a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, December 5th. StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. Chardan Capital increased their price target on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Citigroup started coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They issued a “buy” rating and a $33.00 price target on the stock.

Institutional Trading of EyePoint Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Patient Square Capital LP purchased a new stake in shares of EyePoint Pharmaceuticals in the 3rd quarter valued at approximately $10,882,000. Point72 Asset Management L.P. acquired a new stake in EyePoint Pharmaceuticals during the second quarter worth approximately $5,488,000. Cubist Systematic Strategies LLC lifted its position in shares of EyePoint Pharmaceuticals by 842.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock worth $4,143,000 after buying an additional 425,717 shares during the last quarter. Franklin Resources Inc. raised its stake in EyePoint Pharmaceuticals by 9.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company’s stock worth $32,056,000 after acquiring an additional 362,399 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in EyePoint Pharmaceuticals by 1,171.3% in the third quarter. JPMorgan Chase & Co. now owns 371,758 shares of the company’s stock valued at $2,970,000 after acquiring an additional 342,516 shares during the last quarter. 99.41% of the stock is owned by institutional investors and hedge funds.

EyePoint Pharmaceuticals Price Performance

Shares of EyePoint Pharmaceuticals stock opened at $8.34 on Friday. The firm’s 50-day moving average is $8.83 and its two-hundred day moving average is $8.99. EyePoint Pharmaceuticals has a 1 year low of $6.90 and a 1 year high of $30.99. The stock has a market cap of $569.21 million, a price-to-earnings ratio of -4.17 and a beta of 1.49.

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.