Brokerages Set EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) PT at $26.63

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) have received an average rating of "Buy" from the ten brokerages that are covering the stock, MarketBeat reports. Ten equities research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have covered the stock in the last year is $26.63.

EYPT has been the topic of a number of analyst reports. StockNews.com upgraded shares of EyePoint Pharmaceuticals to a "sell" rating in a report on Saturday, September 21st. Citigroup initiated coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They issued a "buy" rating and a $33.00 target price for the company. HC Wainwright restated a "buy" rating and issued a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Thursday, December 5th. Robert W. Baird dropped their price objective 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. Finally, Scotiabank began coverage on EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They issued a "sector outperform" rating and a $18.00 price objective on the stock.

EyePoint Pharmaceuticals Trading Down 8.5 %

EYPT traded down $0.77 on Friday, hitting $8.34. 751,895 shares of the company's stock were exchanged, compared to its average volume of 881,464. The stock has a market cap of $569.21 million, a price-to-earnings ratio of -4.17 and a beta of 1.49. EyePoint Pharmaceuticals has a fifty-two week low of $6.90 and a fifty-two week high of $30.99. The firm has a 50-day moving average price of $8.83 and a 200-day moving average price of $9.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings 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 worth $2,970,000 after acquiring an additional 342,516 shares in the last quarter. Franklin Resources Inc. raised 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 buying an additional 362,399 shares during the last quarter. Geode Capital Management LLC lifted its position in EyePoint Pharmaceuticals by 16.1% during the 3rd 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 in the last quarter. Barclays PLC grew its holdings in EyePoint Pharmaceuticals by 410.4% during the 3rd quarter. Barclays PLC now owns 245,045 shares of the company's stock worth $1,959,000 after acquiring an additional 197,033 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in EyePoint Pharmaceuticals by 59.4% during the 3rd quarter. Wellington Management Group LLP now owns 171,764 shares of the company's stock worth $1,372,000 after acquiring an additional 64,008 shares during the last quarter. 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.