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

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have been given an average rating of “Buy” by the ten ratings firms that are covering the stock, Marketbeat Ratings reports. Ten analysts have rated the stock with a buy rating. The average 1 year price target among brokers that have covered the stock in the last year is $26.63.

A number of research analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price target on shares of EyePoint Pharmaceuticals in a research note on Thursday, December 5th. Scotiabank assumed coverage on EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price target for the company. Chardan Capital reissued a “buy” rating and set a $33.00 target price on shares of EyePoint Pharmaceuticals in a research note on Thursday, February 6th. Citigroup assumed coverage on EyePoint Pharmaceuticals in a research note on Tuesday, January 7th. They set a “buy” rating and a $33.00 target price for the company. Finally, Robert W. Baird lowered their target price on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, November 11th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in EYPT. Patient Square Capital LP acquired a new position in shares of EyePoint Pharmaceuticals in the third quarter valued at approximately $10,882,000. 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 valued at $32,056,000 after buying an additional 362,399 shares during the period. JPMorgan Chase & Co. increased its stake in shares of 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 period. abrdn plc acquired a new position in shares of EyePoint Pharmaceuticals in the fourth quarter valued at approximately $1,719,000. Finally, Barclays PLC increased its stake in shares of EyePoint Pharmaceuticals by 410.4% in the third quarter. Barclays PLC now owns 245,045 shares of the company’s stock valued at $1,959,000 after buying an additional 197,033 shares during the period. Institutional investors and hedge funds own 99.41% of the company’s stock.

EyePoint Pharmaceuticals Stock Down 3.4 %

EYPT stock opened at $6.27 on Thursday. The company has a market cap of $427.93 million, a PE ratio of -3.14 and a beta of 1.51. The business has a 50-day simple moving average of $7.82 and a 200 day simple moving average of $8.77. EyePoint Pharmaceuticals has a 52 week low of $5.90 and a 52 week high of $30.78.

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.