EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives Consensus Rating of “Buy” from Analysts

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have been assigned an average recommendation of “Buy” from the ten brokerages that are covering the stock, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $26.63.

A number of analysts have issued reports on EYPT shares. Chardan Capital raised their target price on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Scotiabank initiated coverage on EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 target price for the company. StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of EyePoint Pharmaceuticals in a research note on Thursday, December 5th. Finally, Robert W. Baird decreased their target price on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, November 11th.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in EYPT. Patient Square Capital LP acquired a new stake in shares of EyePoint Pharmaceuticals during the 3rd quarter worth approximately $10,882,000. Point72 Asset Management L.P. bought a new stake in shares of EyePoint Pharmaceuticals in the second quarter worth $5,488,000. Cubist Systematic Strategies LLC raised its position in EyePoint Pharmaceuticals by 842.5% during the second quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock worth $4,143,000 after acquiring an additional 425,717 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of EyePoint Pharmaceuticals by 9.9% in the third quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company’s stock valued at $32,056,000 after purchasing an additional 362,399 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of EyePoint Pharmaceuticals by 1,171.3% in the third quarter. JPMorgan Chase & Co. now owns 371,758 shares of the company’s stock valued at $2,970,000 after acquiring an additional 342,516 shares in the last quarter. 99.41% of the stock is owned by institutional investors.

EyePoint Pharmaceuticals Trading Up 2.9 %

Shares of NASDAQ:EYPT opened at $7.48 on Friday. The business’s 50 day moving average price is $8.40 and its 200-day moving average price is $8.96. EyePoint Pharmaceuticals has a 1 year low of $6.90 and a 1 year high of $30.99.

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.