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

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has received a consensus rating of “Buy” from the nine brokerages that are presently covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have covered the stock in the last year is $25.71.

A number of equities research analysts have issued reports on EYPT shares. StockNews.com raised shares of EyePoint Pharmaceuticals to a “sell” rating in a research report on Saturday, September 21st. Chardan Capital increased their price target on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Jefferies Financial Group began coverage on EyePoint Pharmaceuticals in a report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target on the stock. Scotiabank started coverage on EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price objective for the company. Finally, HC Wainwright reiterated a “buy” rating and set a $22.00 target price on shares of EyePoint Pharmaceuticals in a research note on Thursday, December 5th.

Institutional Trading of EyePoint Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. raised its holdings in EyePoint Pharmaceuticals by 68.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock valued at $82,000 after acquiring an additional 4,172 shares during the period. Greenwich Wealth Management LLC bought a new position in EyePoint Pharmaceuticals in the 2nd quarter worth about $94,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in EyePoint Pharmaceuticals by 271.0% in 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 period. Cyndeo Wealth Partners LLC purchased a new position in EyePoint Pharmaceuticals during the 3rd quarter valued at about $100,000. Finally, Arizona State Retirement System increased its position in shares of EyePoint Pharmaceuticals by 9.7% during the second quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $115,000 after buying an additional 1,171 shares during the period. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

EyePoint Pharmaceuticals Price Performance

NASDAQ EYPT opened at $7.33 on Wednesday. The company has a fifty day moving average price of $9.59 and a 200-day moving average price of $9.06. The firm has a market cap of $500.28 million, a price-to-earnings ratio of -3.67 and a beta of 1.46. EyePoint Pharmaceuticals has a 1 year low of $6.90 and a 1 year high of $30.99.

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.