EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Gap Up – Should You Buy?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $8.68, but opened at $9.19. EyePoint Pharmaceuticals shares last traded at $9.40, with a volume of 107,868 shares changing hands.

Analyst Ratings Changes

Several analysts have weighed in on EYPT shares. Scotiabank assumed coverage on EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 target price on the stock. Chardan Capital lifted their target price on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Citigroup began coverage on EyePoint Pharmaceuticals in a report on Tuesday. They issued a “buy” rating and a $33.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $22.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. Finally, StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. One investment analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $26.63.

EyePoint Pharmaceuticals Price Performance

The firm has a market cap of $608.80 million, a PE ratio of -4.46 and a beta of 1.49. The business has a fifty day moving average price of $9.05 and a two-hundred day moving average price of $8.98.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Large investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. lifted its position in shares of 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 during the last quarter. Greenwich Wealth Management LLC increased its holdings in EyePoint Pharmaceuticals by 8.3% during the 3rd quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock valued at $93,000 after purchasing an additional 900 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in EyePoint Pharmaceuticals by 271.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock valued at $95,000 after purchasing an additional 7,953 shares in the last quarter. Cyndeo Wealth Partners LLC acquired a new stake in shares of EyePoint Pharmaceuticals in the 3rd quarter valued at $100,000. Finally, Arizona State Retirement System increased its stake in shares of EyePoint Pharmaceuticals by 9.7% in the 2nd quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $115,000 after buying an additional 1,171 shares during the period. 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.