EyePoint Pharmaceuticals (NASDAQ:EYPT) Now Covered by Citigroup

Research analysts at Citigroup started coverage on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $33.00 price target on the stock. Citigroup’s target price would suggest a potential upside of 280.18% from the stock’s current price.

Several other brokerages have also recently issued reports on EYPT. StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a research report on Saturday, September 21st. Robert W. Baird lowered 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. Chardan Capital upped their price target on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and issued a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, December 5th. Finally, Scotiabank assumed coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 target price for the company. One analyst has rated the stock with a sell rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $26.63.

EyePoint Pharmaceuticals Price Performance

NASDAQ EYPT opened at $8.68 on Tuesday. EyePoint Pharmaceuticals has a 12 month low of $6.90 and a 12 month high of $30.99. The firm has a market capitalization of $592.42 million, a PE ratio of -4.34 and a beta of 1.49. The company’s 50 day simple moving average is $9.05 and its 200 day simple moving average is $8.98.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several hedge funds have recently made changes to their positions in EYPT. China Universal Asset Management Co. Ltd. grew its position in EyePoint Pharmaceuticals by 68.2% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock worth $82,000 after purchasing an additional 4,172 shares in the last quarter. Greenwich Wealth Management LLC grew its holdings in shares of EyePoint Pharmaceuticals by 8.3% during the third quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock valued at $93,000 after buying an additional 900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in EyePoint Pharmaceuticals by 271.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock valued at $95,000 after buying an additional 7,953 shares during the period. Cyndeo Wealth Partners LLC purchased a new stake in EyePoint Pharmaceuticals in the 3rd quarter worth about $100,000. Finally, Arizona State Retirement System boosted its position in EyePoint Pharmaceuticals by 9.7% during the 2nd quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock worth $115,000 after acquiring an additional 1,171 shares during the period. Hedge funds and other institutional investors 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.