EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Up 5.8% – Should You Buy?

Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) were up 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 Ratings Changes

EYPT has been the subject of a number of recent analyst reports. StockNews.com raised shares of EyePoint Pharmaceuticals to a “sell” rating in a research note on Saturday, September 21st. Scotiabank assumed coverage on EyePoint Pharmaceuticals in a research report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 target price for the company. Robert W. Baird dropped their price target on EyePoint Pharmaceuticals from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. HC Wainwright restated a “buy” rating and set a $22.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Thursday, December 5th. Finally, Chardan Capital upped their target price on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the company a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to MarketBeat.com, EyePoint Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $25.71.

EyePoint Pharmaceuticals Trading Up 6.1 %

The company has a fifty day moving average price of $9.29 and a 200-day moving average price of $9.01. The firm has a market capitalization of $508.47 million, a price-to-earnings ratio of -3.73 and a beta of 1.45.

Institutional Investors Weigh In On EyePoint Pharmaceuticals

A number of large investors have recently bought and sold shares of EYPT. China Universal Asset Management Co. Ltd. boosted 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 worth $82,000 after purchasing an additional 4,172 shares during the period. Greenwich Wealth Management LLC acquired a new stake in shares of EyePoint Pharmaceuticals in the second quarter valued at about $94,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of EyePoint Pharmaceuticals by 271.0% in the second 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 during the period. Cyndeo Wealth Partners LLC acquired a new position in shares of EyePoint Pharmaceuticals during the 3rd quarter worth about $100,000. Finally, Arizona State Retirement System grew its holdings in 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 last quarter. 99.41% of the stock is currently owned by institutional investors.

About EyePoint Pharmaceuticals

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.