Eyenovia’s (EYEN) Buy Rating Reaffirmed at HC Wainwright

Eyenovia (NASDAQ:EYEN)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $12.00 price target on the stock.

Separately, William Blair upgraded shares of Eyenovia to a “strong-buy” rating in a research report on Friday, August 30th.

Eyenovia Price Performance

Shares of EYEN opened at $0.51 on Wednesday. Eyenovia has a fifty-two week low of $0.37 and a fifty-two week high of $2.57. The company has a market capitalization of $32.37 million, a price-to-earnings ratio of -0.63 and a beta of 1.75. The firm has a 50-day simple moving average of $0.51 and a 200-day simple moving average of $0.72. The company has a debt-to-equity ratio of 3.72, a quick ratio of 0.27 and a current ratio of 0.46.

Eyenovia (NASDAQ:EYEN) last announced its earnings results on Monday, August 12th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The business had revenue of $0.02 million for the quarter, compared to analyst estimates of $1.38 million. Eyenovia had a negative return on equity of 547.46% and a negative net margin of 116,506.25%. On average, equities research analysts anticipate that Eyenovia will post -0.56 earnings per share for the current year.

Insider Buying and Selling at Eyenovia

In related news, CEO Michael M. Rowe purchased 50,000 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were bought at an average price of $0.57 per share, for a total transaction of $28,500.00. Following the acquisition, the chief executive officer now directly owns 82,927 shares in the company, valued at $47,268.39. This trade represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. 7.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eyenovia

A number of hedge funds have recently made changes to their positions in the business. Armistice Capital LLC purchased a new stake in Eyenovia during the 2nd quarter worth $3,601,000. Vanguard Group Inc. boosted its stake in Eyenovia by 25.2% during the 1st quarter. Vanguard Group Inc. now owns 1,790,501 shares of the company’s stock valued at $1,765,000 after purchasing an additional 360,924 shares during the period. BNP Paribas Financial Markets boosted its stake in Eyenovia by 1,444.4% during the 1st quarter. BNP Paribas Financial Markets now owns 219,610 shares of the company’s stock valued at $217,000 after purchasing an additional 205,390 shares during the period. SkyView Investment Advisors LLC bought a new stake in shares of Eyenovia during the 2nd quarter worth about $87,000. Finally, Financial Management Network Inc. bought a new stake in shares of Eyenovia during the 3rd quarter worth about $39,000. Hedge funds and other institutional investors own 25.84% of the company’s stock.

Eyenovia Company Profile

Eyenovia, Inc, an ophthalmic technology company, engages in the development of therapeutics based on its proprietary microdose array print platform technology. The company's product candidates include MicroPine, which is in Phase III clinical development program with indications for pediatric myopia progression (near-sightedness); MicroLine, which is in Phase III clinical development program with indications for the improvement in near vision in people with presbyopia; and Mydcombi, which is in Phase III clinical development program with indications for pharmaceutical mydriasis.