EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Given Average Recommendation of “Buy” by Brokerages

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has received an average rating of “Buy” from the nine research firms that are covering the firm, MarketBeat.com reports. Nine equities research analysts have rated the stock with a buy rating. The average 1 year target price among analysts that have covered the stock in the last year is $28.00.

A number of brokerages have commented on EYPT. Robert W. Baird cut their price target on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. JPMorgan Chase & Co. cut their target price on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Chardan Capital lifted their price target on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Scotiabank began coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price objective on the stock. Finally, HC Wainwright reduced their target price on EyePoint Pharmaceuticals from $30.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, November 11th.

EyePoint Pharmaceuticals Price Performance

Shares of EYPT stock opened at $8.95 on Friday. EyePoint Pharmaceuticals has a one year low of $5.86 and a one year high of $30.99. The business’s 50 day simple moving average is $9.77 and its 200 day simple moving average is $9.57. The stock has a market capitalization of $610.84 million, a PE ratio of -4.48 and a beta of 1.50.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EYPT. Patient Square Capital LP purchased a new position in EyePoint Pharmaceuticals during the third quarter worth about $10,882,000. RA Capital Management L.P. bought a new position in shares of EyePoint Pharmaceuticals during the 1st quarter worth approximately $19,401,000. Point72 Asset Management L.P. bought a new position in shares of EyePoint Pharmaceuticals in the second quarter valued at approximately $5,488,000. Cubist Systematic Strategies LLC grew its holdings in shares of EyePoint Pharmaceuticals by 842.5% in the second quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock valued at $4,143,000 after acquiring an additional 425,717 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of EyePoint Pharmaceuticals by 17.8% during the first quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock valued at $49,530,000 after acquiring an additional 362,168 shares during the last quarter. Hedge funds and other 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.