EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Gap Up – What’s Next?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $8.68, but opened at $9.19. EyePoint Pharmaceuticals shares last traded at $9.40, with a volume of 107,868 shares changing hands.

Analysts Set New Price Targets

EYPT has been the subject of a number of analyst reports. Scotiabank began coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Thursday, December 5th. StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. Chardan Capital increased their price target on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Citigroup assumed coverage on shares of EyePoint Pharmaceuticals in a research note on Tuesday. They set a “buy” rating and a $33.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, EyePoint Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $26.63.

EyePoint Pharmaceuticals Stock Down 1.2 %

The firm has a market capitalization of $621.77 million, a price-to-earnings ratio of -4.56 and a beta of 1.49. The firm’s 50 day moving average is $8.96 and its 200 day moving average is $8.99.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in EYPT. JPMorgan Chase & Co. lifted its position in shares of EyePoint Pharmaceuticals by 1,171.3% in the 3rd 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. Franklin Resources Inc. lifted 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 period. Barclays PLC grew its holdings in shares of EyePoint Pharmaceuticals by 410.4% during the third 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 in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of EyePoint Pharmaceuticals by 59.4% during the third 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 in the last quarter. 99.41% of the stock is currently owned by institutional investors and hedge funds.

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.