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

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have been assigned a consensus recommendation of “Buy” from the ten analysts that are currently covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $26.63.

A number of analysts recently commented on EYPT shares. Scotiabank began coverage on 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. Chardan Capital raised their price objective on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Citigroup initiated coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They set a “buy” rating and a $33.00 price objective on the stock. StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of EyePoint Pharmaceuticals in a research note on Thursday, December 5th.

EyePoint Pharmaceuticals Stock Down 8.5 %

Shares of NASDAQ:EYPT opened at $8.34 on Friday. EyePoint Pharmaceuticals has a 52 week low of $6.90 and a 52 week high of $30.99. The company has a 50-day moving average price of $8.83 and a 200 day moving average price of $8.99. The company has a market cap of $569.21 million, a P/E ratio of -4.17 and a beta of 1.49.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted 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 worth $2,970,000 after purchasing an additional 342,516 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of EyePoint Pharmaceuticals by 9.9% in the third quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company’s stock worth $32,056,000 after purchasing an additional 362,399 shares during the period. Geode Capital Management LLC lifted 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 purchasing an additional 166,699 shares during the last quarter. Barclays PLC boosted its stake in EyePoint Pharmaceuticals by 410.4% during the 3rd quarter. Barclays PLC now owns 245,045 shares of the company’s stock valued at $1,959,000 after purchasing an additional 197,033 shares during the period. Finally, Wellington Management Group LLP grew its holdings in EyePoint Pharmaceuticals by 59.4% in the 3rd quarter. Wellington Management Group LLP now owns 171,764 shares of the company’s stock valued at $1,372,000 after buying an additional 64,008 shares during the last quarter. 99.41% of the stock is currently owned by hedge funds and other institutional investors.

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.