Citigroup Begins Coverage on EyePoint Pharmaceuticals (NASDAQ:EYPT)

Investment analysts at Citigroup began coverage on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT - Get Free Report) in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage set a "buy" rating and a $33.00 price target on the stock. Citigroup's price objective would indicate a potential upside of 257.92% from the company's previous close.

A number of other analysts have also recently weighed in on EYPT. StockNews.com raised shares of EyePoint Pharmaceuticals to a "sell" rating in a research report on Saturday, September 21st. HC Wainwright reaffirmed a "buy" rating and issued a $22.00 target price on shares of EyePoint Pharmaceuticals in a research report on Thursday, December 5th. Chardan Capital raised their target price on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a "buy" rating in a report on Friday, November 8th. Robert W. Baird decreased their price target on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an "outperform" rating for the company in a report on Monday, November 11th. Finally, Scotiabank initiated coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They set a "sector outperform" rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $26.63.

EyePoint Pharmaceuticals Price Performance

EYPT stock traded up $0.54 during midday trading on Tuesday, reaching $9.22. 826,626 shares of the company's stock traded hands, compared to its average volume of 933,154. EyePoint Pharmaceuticals has a fifty-two week low of $6.90 and a fifty-two week high of $30.99. The business has a 50-day moving average price of $9.00 and a two-hundred day moving average price of $8.98. The company has a market capitalization of $629.27 million, a P/E ratio of -4.61 and a beta of 1.49.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC lifted its position in shares of EyePoint Pharmaceuticals by 234.2% during the third quarter. Essex Investment Management Co. LLC now owns 142,144 shares of the company's stock worth $1,136,000 after purchasing an additional 99,606 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in EyePoint Pharmaceuticals by 5.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 142,763 shares of the company's stock worth $1,141,000 after buying an additional 7,967 shares during the last quarter. Geode Capital Management LLC grew its position in shares of EyePoint Pharmaceuticals by 16.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,199,056 shares of the company's stock worth $9,583,000 after acquiring an additional 166,699 shares in the last quarter. Barclays PLC increased its holdings in shares of EyePoint Pharmaceuticals by 410.4% in the 3rd quarter. Barclays PLC now owns 245,045 shares of the company's stock valued at $1,959,000 after acquiring an additional 197,033 shares during the last quarter. Finally, Patient Square Capital LP acquired a new stake in shares of EyePoint Pharmaceuticals during the 3rd quarter valued at approximately $10,882,000. 99.41% of the stock is currently owned by institutional investors.

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.