EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Given Average Recommendation of "Buy" by Analysts

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) has been assigned an average rating of "Buy" from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Nine research analysts have rated the stock with a buy rating. The average twelve-month target price among analysts that have covered the stock in the last year is $25.71.

A number of analysts have recently issued reports on EYPT shares. Scotiabank initiated coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a "sector outperform" rating and a $18.00 price target on the stock. HC Wainwright restated a "buy" rating and issued a $22.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. Robert W. Baird reduced their price target 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. Jefferies Financial Group assumed coverage on EyePoint Pharmaceuticals in a research note on Wednesday, August 28th. They set a "buy" rating and a $15.00 price objective for the company. Finally, Chardan Capital raised their target price on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, November 8th.

Institutional Trading of EyePoint Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in EyePoint Pharmaceuticals during the 2nd quarter valued at $664,000. Bank of New York Mellon Corp raised its position in shares of EyePoint Pharmaceuticals by 32.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 204,892 shares of the company's stock worth $1,783,000 after acquiring an additional 50,388 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of EyePoint Pharmaceuticals by 271.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company's stock worth $95,000 after purchasing an additional 7,953 shares during the last quarter. Panagora Asset Management Inc. lifted its stake in shares of EyePoint Pharmaceuticals by 205.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 120,721 shares of the company's stock worth $1,050,000 after purchasing an additional 81,201 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of EyePoint Pharmaceuticals by 32.6% during the 2nd quarter. Rhumbline Advisers now owns 76,833 shares of the company's stock worth $668,000 after acquiring an additional 18,897 shares in the last quarter. Institutional investors own 99.41% of the company's stock.

EyePoint Pharmaceuticals Price Performance

Shares of NASDAQ:EYPT opened at $8.02 on Wednesday. EyePoint Pharmaceuticals has a 1 year low of $7.21 and a 1 year high of $30.99. The company has a market cap of $547.37 million, a P/E ratio of -4.01 and a beta of 1.45. The stock's fifty day moving average price is $9.78 and its 200-day moving average price is $9.14.

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.