EyePoint Pharmaceuticals (NASDAQ:EYPT) Now Covered by Analysts at Citigroup

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

EYPT has been the topic of a number of other research reports. HC Wainwright reaffirmed a “buy” rating and set a $22.00 target price on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. Robert W. Baird decreased their price objective on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Chardan Capital increased their target price on shares of EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Scotiabank started coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price target on the stock. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $26.63.

EyePoint Pharmaceuticals Stock Performance

Shares of EyePoint Pharmaceuticals stock opened at $8.68 on Tuesday. EyePoint Pharmaceuticals has a 1 year low of $6.90 and a 1 year high of $30.99. The firm’s 50-day simple moving average is $9.05 and its 200-day simple moving average is $8.98. The firm has a market cap of $592.42 million, a PE ratio of -4.34 and a beta of 1.49.

Institutional Trading of EyePoint Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in EyePoint Pharmaceuticals by 32.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 204,892 shares of the company’s stock worth $1,783,000 after purchasing an additional 50,388 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in EyePoint Pharmaceuticals by 271.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock worth $95,000 after buying an additional 7,953 shares in the last quarter. Rhumbline Advisers increased its position in EyePoint Pharmaceuticals by 32.6% in the 2nd quarter. Rhumbline Advisers now owns 76,833 shares of the company’s stock valued at $668,000 after acquiring an additional 18,897 shares during the period. Arizona State Retirement System raised its stake in EyePoint Pharmaceuticals by 9.7% during the 2nd quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock valued at $115,000 after acquiring an additional 1,171 shares in the last quarter. Finally, Greenwich Wealth Management LLC acquired a new position in EyePoint Pharmaceuticals during the 2nd quarter worth $94,000. 99.41% of the stock is currently owned by institutional investors.

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.