EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Up 5.8% – What’s Next?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT)’s stock price rose 5.8% during mid-day trading on Tuesday . The company traded as high as $7.45 and last traded at $7.43. Approximately 415,893 shares changed hands during trading, a decline of 56% from the average daily volume of 938,544 shares. The stock had previously closed at $7.02.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on EYPT shares. StockNews.com raised shares of EyePoint Pharmaceuticals to a “sell” rating in a research report on Saturday, September 21st. Scotiabank began coverage on EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $22.00 price target on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. Chardan Capital boosted their price target 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, Robert W. Baird decreased their price target on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, EyePoint Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $25.71.

EyePoint Pharmaceuticals Trading Up 6.1 %

The firm has a market cap of $508.47 million, a P/E ratio of -3.73 and a beta of 1.45. The business’s 50-day moving average is $9.29 and its two-hundred day moving average is $9.01.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. increased its stake in shares of EyePoint Pharmaceuticals by 68.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock valued at $82,000 after acquiring an additional 4,172 shares during the period. Greenwich Wealth Management LLC lifted its holdings in shares of EyePoint Pharmaceuticals by 8.3% in 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 during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 in the last quarter. Cyndeo Wealth Partners LLC acquired a new position in EyePoint Pharmaceuticals during the third quarter worth about $100,000. Finally, Arizona State Retirement System raised its position in EyePoint Pharmaceuticals by 9.7% in the second 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 in the last quarter. 99.41% of the stock is owned by institutional investors and hedge funds.

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.