EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Up 3.4% – What’s Next?

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) were up 3.4% during mid-day trading on Thursday . The company traded as high as $8.14 and last traded at $7.95. Approximately 103,351 shares were traded during trading, a decline of 87% from the average daily volume of 771,834 shares. The stock had previously closed at $7.69.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Scotiabank initiated coverage on EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price objective for the company. Citigroup started coverage on shares of EyePoint Pharmaceuticals in a research note on Tuesday, January 7th. They set a “buy” rating and a $33.00 price target for the company. Robert W. Baird dropped their price objective on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Chardan Capital boosted their target price on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, StockNews.com raised shares of EyePoint Pharmaceuticals to a “sell” rating in a research report on Saturday, September 21st. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, EyePoint Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.63.

EyePoint Pharmaceuticals Trading Up 2.9 %

The company’s 50-day simple moving average is $8.40 and its 200 day simple moving average is $8.95. The stock has a market cap of $510.51 million, a P/E ratio of -3.74 and a beta of 1.49.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in EYPT. Essex Investment Management Co. LLC boosted its stake in 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 acquiring an additional 99,606 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in EyePoint Pharmaceuticals by 5.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 142,763 shares of the company’s stock valued at $1,141,000 after purchasing an additional 7,967 shares during the last quarter. Geode Capital Management LLC increased its position in EyePoint Pharmaceuticals by 16.1% in the third quarter. Geode Capital Management LLC now owns 1,199,056 shares of the company’s stock worth $9,583,000 after buying an additional 166,699 shares during the last quarter. Barclays PLC lifted 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 buying an additional 197,033 shares during the last quarter. Finally, Patient Square Capital LP bought a new position in shares of EyePoint Pharmaceuticals during the 3rd quarter worth $10,882,000. 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.