EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price Up 9.6% – Still a Buy?

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) shot up 9.6% on Monday . The company traded as high as $9.09 and last traded at $9.05. 246,662 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 688,934 shares. The stock had previously closed at $8.26.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Robert W. Baird decreased their price objective on shares of EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Citigroup started coverage on shares of EyePoint Pharmaceuticals in a research report on Tuesday. They issued a “buy” rating and a $33.00 price target on the stock. Chardan Capital lifted their price objective on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a research report on Saturday, September 21st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research note on Thursday, December 5th. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. Based on data from MarketBeat, EyePoint Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $26.63.

EyePoint Pharmaceuticals Price Performance

The company’s 50-day moving average is $9.00 and its 200-day moving average is $8.98. The firm has a market capitalization of $621.77 million, a price-to-earnings ratio of -4.56 and a beta of 1.49.

Institutional Trading of EyePoint Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its position in 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 grew its holdings in shares of EyePoint Pharmaceuticals by 8.3% during the 3rd quarter. Greenwich Wealth Management LLC now owns 11,700 shares of the company’s stock worth $93,000 after purchasing an additional 900 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in EyePoint Pharmaceuticals by 271.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock worth $95,000 after purchasing an additional 7,953 shares in the last quarter. Cyndeo Wealth Partners LLC acquired a new stake in EyePoint Pharmaceuticals during the 3rd quarter worth approximately $100,000. Finally, Arizona State Retirement System lifted its position in EyePoint Pharmaceuticals by 9.7% during the second 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 in the last quarter. 99.41% of the stock is currently 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.