EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Up 5.8% – What’s Next?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) rose 5.8% during mid-day trading on Tuesday . The company traded as high as $7.45 and last traded at $7.43. Approximately 415,893 shares traded hands during trading, a decline of 56% from the average daily volume of 938,544 shares. The stock had previously closed at $7.02.

Wall Street Analyst Weigh In

EYPT has been the topic of several analyst reports. Scotiabank assumed coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price target on the stock. Chardan Capital lifted their price target on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, November 8th. StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. Robert W. Baird lowered their price objective on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Finally, HC Wainwright reissued a “buy” rating and issued a $22.00 target price on shares of EyePoint Pharmaceuticals in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, EyePoint Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $25.71.

EyePoint Pharmaceuticals Stock Performance

The company’s 50-day simple moving average is $9.17 and its 200 day simple moving average is $8.98. The company has a market cap of $520.76 million, a PE ratio of -3.82 and a beta of 1.45.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of hedge funds have recently bought and sold shares of EYPT. JPMorgan Chase & Co. increased its holdings in EyePoint Pharmaceuticals by 1,171.3% in the third quarter. JPMorgan Chase & Co. now owns 371,758 shares of the company’s stock valued at $2,970,000 after buying an additional 342,516 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of EyePoint Pharmaceuticals by 9.9% in the 3rd quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company’s stock valued at $32,056,000 after acquiring an additional 362,399 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 acquiring an additional 166,699 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. Finally, Wellington Management Group LLP boosted its holdings in EyePoint Pharmaceuticals by 59.4% in the third quarter. Wellington Management Group LLP now owns 171,764 shares of the company’s stock valued at $1,372,000 after purchasing an additional 64,008 shares in the last quarter. Institutional investors and hedge funds own 99.41% of the company’s stock.

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.