Robert W. Baird Cuts EyePoint Pharmaceuticals (NASDAQ:EYPT) Price Target to $33.00

EyePoint Pharmaceuticals (NASDAQ:EYPT) had its target price trimmed by Robert W. Baird from $38.00 to $33.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms have also weighed in on EYPT. Jefferies Financial Group initiated coverage on shares of EyePoint Pharmaceuticals in a research note on Wednesday, August 28th. They issued a “buy” rating and a $15.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $30.00 price target on shares of EyePoint Pharmaceuticals in a research report on Friday, October 25th. Scotiabank assumed coverage on EyePoint Pharmaceuticals in a report on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 price objective for the company. Chardan Capital raised their target price on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, StockNews.com upgraded EyePoint Pharmaceuticals to a “sell” rating in a research report on Saturday, September 21st. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

EyePoint Pharmaceuticals Stock Performance

Shares of EYPT opened at $10.76 on Monday. The stock has a 50-day moving average of $9.66 and a two-hundred day moving average of $9.91. The stock has a market cap of $575.88 million, a P/E ratio of -5.38 and a beta of 1.50. EyePoint Pharmaceuticals has a one year low of $5.86 and a one year high of $30.99.

Institutional Trading of EyePoint Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. RA Capital Management L.P. acquired a new position in EyePoint Pharmaceuticals during the first quarter worth $19,401,000. Point72 Asset Management L.P. purchased a new stake in shares of EyePoint Pharmaceuticals during the second quarter worth about $5,488,000. Cubist Systematic Strategies LLC raised its position in shares of EyePoint Pharmaceuticals by 842.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 476,250 shares of the company’s stock worth $4,143,000 after purchasing an additional 425,717 shares during the last quarter. Vanguard Group Inc. lifted its stake in EyePoint Pharmaceuticals by 17.8% in the 1st quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock valued at $49,530,000 after buying an additional 362,168 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its stake in EyePoint Pharmaceuticals by 51.4% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 877,790 shares of the company’s stock valued at $7,637,000 after buying an additional 298,196 shares in the last quarter. 99.41% of the stock is currently owned by hedge funds and other 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.