Robert W. Baird Issues Pessimistic Forecast for EyePoint Pharmaceuticals (NASDAQ:EYPT) Stock Price

EyePoint Pharmaceuticals (NASDAQ:EYPT) had its price objective reduced by Robert W. Baird from $38.00 to $33.00 in a research note released on Monday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

Several other analysts have also commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $30.00 price objective on shares of EyePoint Pharmaceuticals in a research report on Friday, October 25th. JPMorgan Chase & Co. reduced their price objective on EyePoint Pharmaceuticals from $32.00 to $29.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Scotiabank started coverage on EyePoint Pharmaceuticals in a research note on Wednesday, October 16th. They issued a “sector outperform” rating and a $18.00 target price on the stock. Jefferies Financial Group started coverage on EyePoint Pharmaceuticals in a research report on Wednesday, August 28th. They set a “buy” rating and a $15.00 price target on the stock. Finally, StockNews.com raised EyePoint Pharmaceuticals to a “sell” rating in a report on Saturday, September 21st. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $28.00.

EyePoint Pharmaceuticals Price Performance

Shares of NASDAQ:EYPT opened at $10.49 on Monday. The company has a market capitalization of $561.42 million, a PE ratio of -5.25 and a beta of 1.50. EyePoint Pharmaceuticals has a 1 year low of $5.86 and a 1 year high of $30.99. The business has a fifty day moving average price of $9.71 and a two-hundred day moving average price of $9.91.

Hedge Funds Weigh In On EyePoint Pharmaceuticals

Several hedge funds have recently made changes to their positions in EYPT. Janney Montgomery Scott LLC boosted its stake in EyePoint Pharmaceuticals by 26.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,040 shares of the company’s stock worth $373,000 after purchasing an additional 3,780 shares during the period. Swiss National Bank purchased a new stake in EyePoint Pharmaceuticals in the 1st quarter worth approximately $1,792,000. ProShare Advisors LLC purchased a new stake in EyePoint Pharmaceuticals in the 1st quarter worth approximately $209,000. Entropy Technologies LP bought a new position in EyePoint Pharmaceuticals in the 1st quarter valued at $279,000. Finally, Vanguard Group Inc. grew its position in shares of EyePoint Pharmaceuticals by 17.8% during the 1st quarter. Vanguard Group Inc. now owns 2,396,228 shares of the company’s stock valued at $49,530,000 after purchasing an additional 362,168 shares in the last quarter. 99.41% of the stock is currently owned by hedge funds and other 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.