Eyenovia (NASDAQ:EYEN) Releases Earnings Results, Beats Expectations By $0.02 EPS

Eyenovia (NASDAQ:EYEN) announced its quarterly earnings results on Tuesday. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02, Zacks reports. Eyenovia had a negative return on equity of 547.46% and a negative net margin of 116,506.25%. During the same quarter in the prior year, the business posted ($0.18) earnings per share.

Eyenovia Stock Down 20.7 %

NASDAQ:EYEN traded down $0.10 on Wednesday, hitting $0.40. The stock had a trading volume of 2,463,434 shares, compared to its average volume of 1,199,068. The business’s fifty day moving average is $0.51 and its 200 day moving average is $0.72. Eyenovia has a 52 week low of $0.37 and a 52 week high of $2.57. The company has a quick ratio of 0.27, a current ratio of 0.46 and a debt-to-equity ratio of 3.72. The company has a market cap of $25.66 million, a PE ratio of -0.52 and a beta of 1.75.

Wall Street Analyst Weigh In

EYEN has been the topic of a number of recent research reports. William Blair upgraded Eyenovia to a “strong-buy” rating in a research note on Friday, August 30th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of Eyenovia in a research note on Wednesday.

Insider Transactions at Eyenovia

In other news, CEO Michael M. Rowe acquired 50,000 shares of Eyenovia stock in a transaction on Monday, August 26th. The stock was acquired at an average cost of $0.57 per share, with a total value of $28,500.00. Following the completion of the acquisition, the chief executive officer now owns 82,927 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 7.10% of the company’s stock.

About Eyenovia

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.