HC Wainwright Issues Pessimistic Forecast for EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price

EyePoint Pharmaceuticals (NASDAQ:EYPT) had its target price cut by investment analysts at HC Wainwright from $30.00 to $22.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price target would suggest a potential upside of 98.02% from the stock’s previous close.

EYPT has been the subject of a number of other reports. Jefferies Financial Group assumed coverage on EyePoint Pharmaceuticals in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price target for the company. Chardan Capital increased their price target on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, November 8th. 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. 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 report on Monday. Finally, StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. One equities 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $28.00.

EyePoint Pharmaceuticals Price Performance

Shares of NASDAQ EYPT opened at $11.11 on Monday. The business has a 50-day moving average of $9.62 and a 200-day moving average of $9.90. The stock has a market capitalization of $594.58 million, a price-to-earnings ratio of -5.56 and a beta of 1.50. EyePoint Pharmaceuticals has a fifty-two week low of $5.86 and a fifty-two week high of $30.99.

Institutional Trading of EyePoint Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in EYPT. Ameritas Investment Partners Inc. grew its holdings in EyePoint Pharmaceuticals by 44.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 3,719 shares of the company’s stock valued at $77,000 after buying an additional 1,136 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in EyePoint Pharmaceuticals by 68.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock worth $82,000 after acquiring an additional 4,172 shares during the period. Greenwich Wealth Management LLC increased its position in EyePoint Pharmaceuticals by 8.3% during the third quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock worth $93,000 after acquiring an additional 900 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in EyePoint Pharmaceuticals by 271.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock valued at $95,000 after purchasing an additional 7,953 shares during the period. Finally, Cyndeo Wealth Partners LLC bought a new stake in EyePoint Pharmaceuticals in the 3rd quarter valued at about $100,000. 99.41% of the stock is owned by institutional investors and hedge funds.

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.