EyePoint Pharmaceuticals (NASDAQ:EYPT) Trading Up 9.6% - What's Next?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT - Get Free Report) shot up 9.6% during mid-day trading on Monday . The stock traded as high as $9.09 and last traded at $9.05. 246,662 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 688,934 shares. The stock had previously closed at $8.26.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on EYPT shares. StockNews.com raised EyePoint Pharmaceuticals to a "sell" rating in a research report on Saturday, September 21st. Scotiabank assumed coverage on EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They issued a "sector outperform" rating and a $18.00 price target for the company. Robert W. Baird dropped their price objective on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an "outperform" rating on the stock in a research note on Monday, November 11th. Chardan Capital boosted their target price on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $22.00 price target on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $25.71.

EyePoint Pharmaceuticals Price Performance

The stock has a market capitalization of $592.42 million, a price-to-earnings ratio of -4.34 and a beta of 1.49. The firm's fifty day moving average is $9.05 and its 200-day moving average is $8.98.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Large investors have recently modified their holdings of the stock. Essex Investment Management Co. LLC raised its stake in EyePoint Pharmaceuticals by 234.2% during the third quarter. Essex Investment Management Co. LLC now owns 142,144 shares of the company's stock valued at $1,136,000 after buying an additional 99,606 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of EyePoint Pharmaceuticals by 5.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 142,763 shares of the company's stock valued at $1,141,000 after acquiring an additional 7,967 shares in the last quarter. Barclays PLC lifted its stake in EyePoint Pharmaceuticals by 410.4% during the third quarter. Barclays PLC now owns 245,045 shares of the company's stock worth $1,959,000 after purchasing an additional 197,033 shares during the last quarter. Geode Capital Management LLC boosted its holdings in 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 purchasing an additional 166,699 shares during the period. Finally, Patient Square Capital LP bought a new stake in EyePoint Pharmaceuticals during the third quarter valued at $10,882,000. 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.