EyePoint Pharmaceuticals (NASDAQ:EYPT) Shares Gap Up – Time to Buy?

EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) gapped up prior to trading 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 trading hands.

Analysts Set New Price Targets

A number of analysts recently issued reports on EYPT shares. 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 research report on Friday, November 8th. Robert W. Baird dropped their price objective 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. Scotiabank began coverage on shares of EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They set a “sector outperform” rating and a $18.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $22.00 price target on shares of EyePoint Pharmaceuticals in a report on Thursday, December 5th. Finally, StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a research 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $26.63.

EyePoint Pharmaceuticals Trading Down 1.2 %

The business’s 50-day simple moving average is $8.96 and its two-hundred day simple moving average is $8.99. The company has a market capitalization of $621.77 million, a PE ratio of -4.56 and a beta of 1.49.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EYPT. Franklin Resources Inc. raised its stake in shares of EyePoint Pharmaceuticals by 9.9% in the 3rd quarter. Franklin Resources Inc. now owns 4,012,048 shares of the company’s stock valued at $32,056,000 after purchasing an additional 362,399 shares in the last quarter. Patient Square Capital LP bought a new position in EyePoint Pharmaceuticals during the 3rd quarter worth approximately $10,882,000. Geode Capital Management LLC raised its position in shares of EyePoint Pharmaceuticals by 16.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,199,056 shares of the company’s stock valued at $9,583,000 after acquiring an additional 166,699 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its holdings in EyePoint Pharmaceuticals by 51.4% in the second quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock worth $7,637,000 after purchasing an additional 298,196 shares during the period. Finally, Fiera Capital Corp increased its stake in EyePoint Pharmaceuticals by 0.9% during the second quarter. Fiera Capital Corp now owns 677,038 shares of the company’s stock valued at $5,890,000 after purchasing an additional 5,920 shares during the last quarter. 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.