EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Receives $25.71 Average Target Price from Brokerages

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has been given a consensus recommendation of “Buy” by the nine ratings firms that are presently covering the stock, Marketbeat Ratings reports. Nine analysts have rated the stock with a buy recommendation. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $25.71.

EYPT has been the topic of a number of recent research reports. StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. Jefferies Financial Group assumed coverage on EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price objective for the company. Chardan Capital boosted their target price on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a report 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 price target for the company. Finally, Robert W. Baird dropped 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 note on Monday, November 11th.

EyePoint Pharmaceuticals Price Performance

NASDAQ:EYPT opened at $7.10 on Wednesday. The firm’s 50-day moving average price is $9.70 and its 200-day moving average price is $9.10. The company has a market capitalization of $484.58 million, a PE ratio of -3.55 and a beta of 1.45. EyePoint Pharmaceuticals has a 1-year low of $6.90 and a 1-year high of $30.99.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. boosted its holdings in shares of EyePoint Pharmaceuticals by 9.9% during the 3rd quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company’s stock valued at $32,056,000 after acquiring an additional 362,399 shares during the last quarter. Geode Capital Management LLC boosted its holdings 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 purchasing an additional 166,699 shares during the last quarter. Barclays PLC grew its position in EyePoint Pharmaceuticals by 410.4% in the 3rd quarter. Barclays PLC now owns 245,045 shares of the company’s stock worth $1,959,000 after purchasing an additional 197,033 shares during the period. Wellington Management Group LLP raised its stake in EyePoint Pharmaceuticals by 59.4% during the 3rd quarter. Wellington Management Group LLP now owns 171,764 shares of the company’s stock valued at $1,372,000 after buying an additional 64,008 shares during the last quarter. Finally, Patient Square Capital LP bought a new position in shares of EyePoint Pharmaceuticals during the 3rd quarter valued at $10,882,000. 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.