Robert W. Baird Has Lowered Expectations for EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price

EyePoint Pharmaceuticals (NASDAQ:EYPT) had its target price decreased by investment analysts at Robert W. Baird from $38.00 to $33.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 197.03% from the stock’s previous close.

EYPT has been the topic of several other reports. Jefferies Financial Group initiated coverage on shares of EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $30.00 price target on shares of EyePoint Pharmaceuticals in a research note on Friday, October 25th. Chardan Capital upped their price objective on EyePoint Pharmaceuticals from $28.00 to $33.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. StockNews.com upgraded shares of EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. Finally, Scotiabank started 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 target on the stock. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to MarketBeat.com, EyePoint Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

EyePoint Pharmaceuticals Price Performance

EYPT opened at $11.11 on Monday. The company has a market capitalization of $594.58 million, a price-to-earnings ratio of -5.56 and a beta of 1.50. The business’s 50-day moving average price is $9.62 and its two-hundred day moving average price is $9.90. EyePoint Pharmaceuticals has a 1 year low of $5.86 and a 1 year high of $30.99.

Institutional Trading of EyePoint Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of EyePoint Pharmaceuticals by 5.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 142,763 shares of the company’s stock worth $1,141,000 after buying an additional 7,967 shares in the last quarter. Intech Investment Management LLC bought a new stake in EyePoint Pharmaceuticals in the 3rd quarter valued at about $136,000. GSA Capital Partners LLP grew its position in shares of EyePoint Pharmaceuticals by 129.6% during the 3rd quarter. GSA Capital Partners LLP now owns 32,979 shares of the company’s stock worth $264,000 after purchasing an additional 18,616 shares in the last quarter. Greenwich Wealth Management LLC increased its holdings in shares of EyePoint Pharmaceuticals by 8.3% during the third 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. Finally, China Universal Asset Management Co. Ltd. boosted its stake in shares of EyePoint Pharmaceuticals by 68.2% in the third quarter. China Universal Asset Management Co. Ltd. now owns 10,293 shares of the company’s stock valued at $82,000 after buying an additional 4,172 shares during the period. Institutional investors 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.