Brokerages Set EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Target Price at $28.00

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has been given a consensus rating of “Buy” by the nine research firms that are currently covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $28.00.

Several brokerages recently weighed in on EYPT. Jefferies Financial Group began coverage on EyePoint Pharmaceuticals in a research note on Wednesday, August 28th. They set a “buy” rating and a $15.00 target price on the stock. Robert W. Baird cut their price objective 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. Scotiabank assumed coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price objective for the company. StockNews.com raised shares of EyePoint Pharmaceuticals to a “sell” rating in a research report on Saturday, September 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. raised its stake in shares of EyePoint Pharmaceuticals by 9.9% during the 3rd 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 last quarter. Geode Capital Management LLC raised its position 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 valued at $9,583,000 after acquiring an additional 166,699 shares in the last quarter. Barclays PLC boosted its position in EyePoint Pharmaceuticals by 410.4% in the 3rd quarter. Barclays PLC now owns 245,045 shares of the company’s stock worth $1,959,000 after purchasing an additional 197,033 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of EyePoint Pharmaceuticals by 59.4% during the 3rd quarter. Wellington Management Group LLP now owns 171,764 shares of the company’s stock worth $1,372,000 after purchasing an additional 64,008 shares during the period. Finally, Patient Square Capital LP acquired a new stake in shares of EyePoint Pharmaceuticals during the 3rd quarter worth approximately $10,882,000. 99.41% of the stock is owned by hedge funds and other institutional investors.

EyePoint Pharmaceuticals Stock Up 0.6 %

Shares of EYPT opened at $9.05 on Friday. The company has a 50 day moving average of $9.78 and a two-hundred day moving average of $9.48. The company has a market cap of $617.66 million, a price-to-earnings ratio of -4.53 and a beta of 1.50. EyePoint Pharmaceuticals has a twelve month low of $5.92 and a twelve month high of $30.99.

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.