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

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) has earned a consensus recommendation of “Buy” from the nine research firms that are presently covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have covered the stock in the last year is $28.00.

Several equities research analysts have issued reports on EYPT shares. HC Wainwright lowered their price target on shares of EyePoint Pharmaceuticals from $30.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. Robert W. Baird dropped their target price on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Scotiabank started 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 upped their price objective on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group assumed coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 target price for the company.

EyePoint Pharmaceuticals Stock Down 2.2 %

NASDAQ EYPT opened at $8.85 on Friday. The firm’s 50 day moving average is $9.78 and its 200-day moving average is $9.47. The company has a market capitalization of $604.02 million, a PE ratio of -4.43 and a beta of 1.50. EyePoint Pharmaceuticals has a 12-month low of $5.98 and a 12-month high of $30.99.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Essex Investment Management Co. LLC raised its position in shares of EyePoint Pharmaceuticals by 234.2% in the third quarter. Essex Investment Management Co. LLC now owns 142,144 shares of the company’s stock valued at $1,136,000 after purchasing an additional 99,606 shares during the period. Deerfield Management Company L.P. Series C raised its holdings in EyePoint Pharmaceuticals by 51.4% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock valued at $7,637,000 after acquiring an additional 298,196 shares during the period. Cubist Systematic Strategies LLC lifted its position in EyePoint Pharmaceuticals by 842.5% during the second quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock worth $4,143,000 after acquiring an additional 425,717 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of EyePoint Pharmaceuticals by 112.5% during the second quarter. Renaissance Technologies LLC now owns 152,800 shares of the company’s stock worth $1,329,000 after acquiring an additional 80,900 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in shares of EyePoint Pharmaceuticals in the second quarter valued at approximately $5,488,000. 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.