EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives $26.63 Average PT from Brokerages

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has received a consensus recommendation of “Buy” from the ten brokerages that are covering the company, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have covered the stock in the last year is $26.63.

Several research firms recently weighed in on EYPT. Citigroup assumed coverage on shares of EyePoint Pharmaceuticals in a research report on Tuesday, January 7th. They issued a “buy” rating and a $33.00 price objective for the company. StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. Chardan Capital boosted their price target on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 8th. HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, December 5th. Finally, Robert W. Baird cut 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.

EyePoint Pharmaceuticals Stock Down 7.1 %

EyePoint Pharmaceuticals stock opened at $7.20 on Friday. The stock has a 50-day simple moving average of $8.75 and a 200 day simple moving average of $8.99. The stock has a market capitalization of $491.41 million, a price-to-earnings ratio of -3.60 and a beta of 1.49. EyePoint Pharmaceuticals has a 12-month low of $6.90 and a 12-month high of $30.99.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in EYPT. China Universal Asset Management Co. Ltd. lifted its stake in 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 valued at $82,000 after acquiring an additional 4,172 shares during the period. Greenwich Wealth Management LLC boosted its holdings in shares of EyePoint Pharmaceuticals by 8.3% during the 3rd quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock valued at $93,000 after purchasing an additional 900 shares during the last quarter. Cyndeo Wealth Partners LLC bought a new position in shares of EyePoint Pharmaceuticals during the 3rd quarter valued at approximately $100,000. Arizona State Retirement System grew its stake in shares of EyePoint Pharmaceuticals by 9.7% in the 2nd quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock worth $115,000 after buying an additional 1,171 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in EyePoint Pharmaceuticals during the third quarter valued at approximately $136,000. Institutional investors own 99.41% of the company’s stock.

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.