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

HC Wainwright reissued their buy rating on shares of Eyenovia (NASDAQ:EYEN) in a research report sent to investors on Wednesday,Benzinga reports. They currently have a $12.00 target price on the stock. HC Wainwright also issued estimates for Eyenovia’s Q4 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.51) EPS, FY2025 earnings at ($0.48) EPS, FY2026 earnings at ($0.31) EPS, FY2027 earnings at $0.14 EPS and FY2028 earnings at $0.56 EPS.

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

Eyenovia Stock Down 70.0 %

Shares of EYEN opened at $0.10 on Wednesday. Eyenovia has a fifty-two week low of $0.09 and a fifty-two week high of $2.57. The company’s fifty day moving average is $0.49 and its two-hundred day moving average is $0.71. The firm has a market cap of $6.53 million, a PE ratio of -0.14 and a beta of 1.75. The company has a quick ratio of 0.27, a current ratio of 0.74 and a debt-to-equity ratio of 0.58.

Eyenovia (NASDAQ:EYEN) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.02. Eyenovia had a negative return on equity of 1,108.24% and a negative net margin of 114,639.41%. During the same quarter last year, the firm earned ($0.18) earnings per share. Analysts forecast that Eyenovia will post -0.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Michael M. Rowe acquired 50,000 shares of the company’s stock in a transaction dated 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 completion of the purchase, the chief executive officer now directly owns 82,927 shares of the company’s stock, valued at approximately $47,268.39. This trade represents a 151.85 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Eyenovia

A number of large investors have recently added to or reduced their stakes in EYEN. Point72 Asia Singapore Pte. Ltd. purchased a new position in Eyenovia in the 2nd quarter valued at about $26,000. Ground Swell Capital LLC bought a new stake in shares of Eyenovia in the 2nd quarter worth about $27,000. Nations Financial Group Inc. IA ADV increased its position in shares of Eyenovia by 24.4% in the 2nd quarter. Nations Financial Group Inc. IA ADV now owns 50,900 shares of the company’s stock worth $30,000 after purchasing an additional 10,000 shares during the last quarter. Financial Management Network Inc. acquired a new stake in shares of Eyenovia in the 3rd quarter valued at about $39,000. Finally, SkyView Investment Advisors LLC bought a new position in shares of Eyenovia during the second quarter worth about $87,000. 25.84% of the stock is owned by institutional investors and hedge funds.

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.