Citigroup Begins Coverage on EyePoint Pharmaceuticals (NASDAQ:EYPT)

Citigroup initiated coverage on shares of EyePoint Pharmaceuticals (NASDAQ:EYPT) in a report released on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $33.00 target price on the stock.

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

EyePoint Pharmaceuticals Stock Up 6.2 %

EYPT stock opened at $9.22 on Tuesday. EyePoint Pharmaceuticals has a 52 week low of $6.90 and a 52 week high of $30.99. The stock has a market capitalization of $629.27 million, a PE ratio of -4.61 and a beta of 1.49. The firm has a 50 day moving average of $9.00 and a 200 day moving average of $8.98.

Institutional Trading of EyePoint Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings in shares of EyePoint Pharmaceuticals by 32.6% in the second quarter. Bank of New York Mellon Corp now owns 204,892 shares of the company’s stock valued at $1,783,000 after purchasing an additional 50,388 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in EyePoint Pharmaceuticals by 271.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,888 shares of the company’s stock valued at $95,000 after buying an additional 7,953 shares during the last quarter. Rhumbline Advisers boosted its stake in EyePoint Pharmaceuticals by 32.6% during the 2nd quarter. Rhumbline Advisers now owns 76,833 shares of the company’s stock worth $668,000 after purchasing an additional 18,897 shares during the period. Arizona State Retirement System lifted its position in EyePoint Pharmaceuticals by 9.7% during the 2nd quarter. Arizona State Retirement System now owns 13,251 shares of the company’s stock worth $115,000 after acquiring an additional 1,171 shares during the period. Finally, Greenwich Wealth Management LLC purchased a new stake in shares of EyePoint Pharmaceuticals during the second quarter worth approximately $94,000. Institutional investors and hedge funds own 99.41% of the company’s stock.

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.