EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Up 5.8% – Time to Buy?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shot up 5.8% during trading on Tuesday . The company traded as high as $7.45 and last traded at $7.43. 415,893 shares were traded during mid-day trading, a decline of 56% from the average session volume of 938,544 shares. The stock had previously closed at $7.02.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. 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 target for the company. Chardan Capital boosted their target price on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 8th. Robert W. Baird dropped their price target on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. HC Wainwright reiterated a “buy” rating and issued a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, December 5th. Finally, StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a research report on Saturday, September 21st. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $25.71.

EyePoint Pharmaceuticals Price Performance

The company has a 50 day moving average price of $9.17 and a 200 day moving average price of $8.98. The firm has a market cap of $520.76 million, a PE ratio of -3.82 and a beta of 1.45.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EYPT. 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 purchasing an additional 342,516 shares during the period. Franklin Resources Inc. lifted its holdings in shares of EyePoint Pharmaceuticals by 9.9% in the 3rd quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company’s stock valued at $32,056,000 after buying an additional 362,399 shares during the period. Geode Capital Management LLC boosted its stake in shares of EyePoint Pharmaceuticals by 16.1% in the third quarter. Geode Capital Management LLC now owns 1,199,056 shares of the company’s stock valued at $9,583,000 after buying an additional 166,699 shares in the last quarter. Barclays PLC grew its holdings in EyePoint Pharmaceuticals by 410.4% during the third quarter. Barclays PLC now owns 245,045 shares of the company’s stock worth $1,959,000 after acquiring an additional 197,033 shares during the period. Finally, Wellington Management Group LLP raised its position in EyePoint Pharmaceuticals by 59.4% in the third quarter. Wellington Management Group LLP now owns 171,764 shares of the company’s stock worth $1,372,000 after acquiring an additional 64,008 shares in the last quarter. 99.41% of the stock is currently owned by institutional investors and hedge funds.

EyePoint Pharmaceuticals Company Profile

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.