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

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have earned an average rating of “Buy” from the ten analysts that are currently covering the stock, Marketbeat.com reports. Ten research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is $26.63.

A number of analysts recently commented on EYPT shares. 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 report on Monday, November 11th. Citigroup began coverage on EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They set a “buy” rating and a $33.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price on shares of EyePoint Pharmaceuticals in a research report on Thursday, December 5th. Scotiabank began coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price target for the company. Finally, Chardan Capital restated a “buy” rating and set a $33.00 price target on shares of EyePoint Pharmaceuticals in a research note on Thursday, February 6th.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. KLP Kapitalforvaltning AS bought a new stake in EyePoint Pharmaceuticals during the fourth quarter worth $59,000. AlphaQuest LLC raised its stake in shares of EyePoint Pharmaceuticals by 13,246.6% during the 4th quarter. AlphaQuest LLC now owns 9,743 shares of the company’s stock worth $73,000 after purchasing an additional 9,670 shares during the period. Raymond James Financial Inc. bought a new stake in shares of EyePoint Pharmaceuticals during the 4th quarter worth $76,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of EyePoint Pharmaceuticals by 68.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock worth $82,000 after buying an additional 4,172 shares during the last quarter. Finally, Greenwich Wealth Management LLC grew its position in EyePoint Pharmaceuticals by 8.3% during the third quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock valued at $93,000 after buying an additional 900 shares during the period. Hedge funds and other institutional investors own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Stock Performance

NASDAQ:EYPT opened at $6.35 on Thursday. The firm has a fifty day simple moving average of $7.74 and a two-hundred day simple moving average of $8.73. EyePoint Pharmaceuticals has a 12 month low of $5.90 and a 12 month high of $30.78.

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.