Citigroup Begins Coverage on EyePoint Pharmaceuticals (NASDAQ:EYPT)

Citigroup started coverage on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a report released on Tuesday, MarketBeat reports. The firm issued a buy rating and a $33.00 price target on the stock.

A number of other brokerages have also recently weighed in on EYPT. Chardan Capital boosted their price objective on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Scotiabank initiated 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. HC Wainwright reissued a “buy” rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Thursday, December 5th. StockNews.com raised shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. Finally, Robert W. Baird decreased their target price on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the company. According to data from MarketBeat, EyePoint Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.63.

EyePoint Pharmaceuticals Stock Performance

EyePoint Pharmaceuticals stock opened at $9.11 on Tuesday. The company has a market capitalization of $621.77 million, a P/E ratio of -4.56 and a beta of 1.49. EyePoint Pharmaceuticals has a fifty-two week low of $6.90 and a fifty-two week high of $30.99. The stock has a 50-day simple moving average of $8.90 and a 200-day simple moving average of $8.99.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of large investors have recently made changes to their positions in EYPT. Greenwich Wealth Management LLC boosted its holdings in EyePoint Pharmaceuticals by 8.3% during the third quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock worth $93,000 after buying an additional 900 shares in the last quarter. Arizona State Retirement System lifted its position in shares of EyePoint Pharmaceuticals by 9.7% during the 2nd quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $115,000 after acquiring an additional 1,171 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in shares of EyePoint Pharmaceuticals by 68.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock worth $82,000 after acquiring an additional 4,172 shares in the last quarter. Fiera Capital Corp grew its holdings in shares of EyePoint Pharmaceuticals by 0.9% in the 2nd quarter. Fiera Capital Corp now owns 677,038 shares of the company’s stock worth $5,890,000 after acquiring an additional 5,920 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in EyePoint Pharmaceuticals by 271.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock valued at $95,000 after purchasing an additional 7,953 shares in the last quarter. Hedge funds and other institutional investors own 99.41% of the company’s stock.

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.