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

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) have been assigned an average recommendation of “Buy” from the five analysts that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $26.20.

A number of analysts have recently issued reports on the stock. Chardan Capital reaffirmed a “buy” rating and set a $22.00 price target on shares of EyePoint Pharmaceuticals in a report on Thursday, August 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $31.00 price objective on shares of EyePoint Pharmaceuticals in a report on Thursday, September 14th. StockNews.com began coverage on shares of EyePoint Pharmaceuticals in a report on Thursday, October 5th. They issued a “hold” rating on the stock. HC Wainwright dropped their price objective on shares of EyePoint Pharmaceuticals from $27.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, November 2nd. Finally, Mizuho began coverage on shares of EyePoint Pharmaceuticals in a report on Thursday, November 2nd. They issued a “buy” rating and a $20.00 price objective on the stock.

EyePoint Pharmaceuticals Stock Up 6.3 %

Shares of NASDAQ EYPT opened at $7.07 on Tuesday. The firm’s 50-day moving average price is $7.83 and its 200-day moving average price is $8.73. The company has a market cap of $249.64 million, a PE ratio of -2.66 and a beta of 1.29. EyePoint Pharmaceuticals has a 52-week low of $2.19 and a 52-week high of $15.63.

Insiders Place Their Bets

In other EyePoint Pharmaceuticals news, major shareholder Ew Healthcare Partners, L.P. sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $9.90, for a total transaction of $198,000.00. Following the sale, the insider now owns 3,490,921 shares in the company, valued at approximately $34,560,117.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 281,114 shares of company stock worth $3,612,779. Company insiders own 13.05% of the company’s stock.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in EYPT. JPMorgan Chase & Co. raised its stake in EyePoint Pharmaceuticals by 41.1% during the 1st quarter. JPMorgan Chase & Co. now owns 15,730 shares of the company’s stock worth $191,000 after acquiring an additional 4,578 shares during the period. Bank of New York Mellon Corp raised its position in shares of EyePoint Pharmaceuticals by 5.3% during the first quarter. Bank of New York Mellon Corp now owns 79,407 shares of the company’s stock valued at $966,000 after buying an additional 3,985 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of EyePoint Pharmaceuticals by 55.5% during the first quarter. MetLife Investment Management LLC now owns 12,835 shares of the company’s stock valued at $156,000 after buying an additional 4,582 shares during the last quarter. Rhumbline Advisers raised its position in shares of EyePoint Pharmaceuticals by 33.8% during the first quarter. Rhumbline Advisers now owns 29,463 shares of the company’s stock valued at $358,000 after buying an additional 7,438 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of EyePoint Pharmaceuticals by 5.9% during the first quarter. BlackRock Inc. now owns 1,526,153 shares of the company’s stock valued at $18,543,000 after buying an additional 85,522 shares during the last quarter. Institutional investors own 99.41% of the company’s stock.

About EyePoint Pharmaceuticals

EyePoint Pharmaceuticals, Inc focuses on developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders. The company's pipeline leverages its proprietary erodible Durasert E technology for sustained intraocular drug delivery, including EYP-1901, an investigational sustained delivery intravitreal anti-VEGF treatment, which is in Phase 2 clinical trials.