Brokerages Set EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Price Target at $26.63

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has received an average rating of “Buy” from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. Ten analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $26.63.

Several research firms have recently issued reports on EYPT. HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. Robert W. Baird lowered their target price 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. StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. Scotiabank started coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price target on the stock. 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 objective for the company.

Institutional Trading of EyePoint Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. Essex Investment Management Co. LLC increased its holdings in shares of EyePoint Pharmaceuticals by 234.2% in the third quarter. Essex Investment Management Co. LLC now owns 142,144 shares of the company’s stock valued at $1,136,000 after purchasing an additional 99,606 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of EyePoint Pharmaceuticals by 5.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 142,763 shares of the company’s stock worth $1,141,000 after acquiring an additional 7,967 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of EyePoint Pharmaceuticals by 16.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,199,056 shares of the company’s stock worth $9,583,000 after acquiring an additional 166,699 shares during the period. Barclays PLC boosted its position in shares of EyePoint Pharmaceuticals by 410.4% during the 3rd quarter. Barclays PLC now owns 245,045 shares of the company’s stock valued at $1,959,000 after acquiring an additional 197,033 shares during the last quarter. Finally, Patient Square Capital LP acquired a new stake in shares of EyePoint Pharmaceuticals during the 3rd quarter worth approximately $10,882,000. Institutional investors and hedge funds own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Price Performance

Shares of EYPT stock opened at $7.20 on Friday. The stock’s 50-day moving average is $8.75 and its 200 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 company has a market cap of $491.41 million, a P/E ratio of -3.60 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.