EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Up 3.4% – Should You Buy?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s share price was up 3.4% during mid-day trading on Thursday . The stock traded as high as $8.14 and last traded at $7.95. Approximately 103,351 shares were traded during trading, a decline of 87% from the average daily volume of 771,834 shares. The stock had previously closed at $7.69.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on EYPT shares. Scotiabank started coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 price target on the stock. Robert W. Baird decreased their price target on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Citigroup assumed coverage on shares of EyePoint Pharmaceuticals in a report on Tuesday, January 7th. They set a “buy” rating and a $33.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $22.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. Finally, Chardan Capital boosted their price target 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. One equities research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, EyePoint Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $26.63.

EyePoint Pharmaceuticals Trading Down 2.1 %

The stock’s 50-day moving average is $8.57 and its 200-day moving average is $8.97. The company has a market cap of $513.58 million, a price-to-earnings ratio of -3.76 and a beta of 1.49.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Essex Investment Management Co. LLC raised its holdings 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 worth $1,136,000 after buying an additional 99,606 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in EyePoint Pharmaceuticals by 5.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 142,763 shares of the company’s stock worth $1,141,000 after buying an additional 7,967 shares during the last quarter. Geode Capital Management LLC raised its holdings in EyePoint Pharmaceuticals by 16.1% during the third quarter. Geode Capital Management LLC now owns 1,199,056 shares of the company’s stock worth $9,583,000 after buying an additional 166,699 shares during the last quarter. Barclays PLC raised its holdings 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 buying an additional 197,033 shares during the last quarter. Finally, Patient Square Capital LP acquired a new position in EyePoint Pharmaceuticals during the third quarter worth $10,882,000. Institutional investors and hedge funds 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.